Wednesday, May 19, 2004

vanishing Sonia

Early speculation over Sonia Gandhi’s fit of modesty concentrated on a supposed backlash to her Italian ancestry – not likely given the fact that the Indian electorate know all about it and a plurality of them voted for her anyway. Rahul Mahajan has what sounds like a more credible explanation.

Normally, Congress governs in coalition with the Indian Communists and kindred left parties. This time they refused to play ball, preferring to support Congress from the outside over specific issues while not committing themselves to the full neoliberal package. The Indian Sensex market drops precipitately, and Sonia gives way to Manmohan Singh, the name most closely associated with neoliberalism. The people have their say, the investors have their government. Full story here.