Breaking News: Mexico Judicial Reform Sparks Nationwide Strike by 1,000 Judges and Magistrates - Markets React with Concern
In a bold move against the ruling party's plan to overhaul Mexico's judiciary, over 1,000 judges and magistrates have joined an indefinite nationwide strike. The National Association of Circuit Magistrates and District Judges announced that its members will participate in the strike starting Wednesday, following a resounding vote in favor of the protest.
The proposed judicial reform, which includes the election of judges - even Supreme Court justices - by popular vote, has raised alarms in the financial markets. There are fears that these changes could weaken checks and balances on presidential power and potentially lead to the political manipulation of the judiciary.
President Andres Manuel Lopez Obrador has denounced the strike as "illegal" and insinuated that the judges are corrupt. Despite his criticism, the unions representing Mexico's 55,000 judicial workers argue that the reform would eliminate merit-based career paths.
The reform is set to be voted on by lawmakers in the upcoming month, during the final stretch of Lopez Obrador's term. Former Supreme Court justice Arturo Zaldivar has criticized the current Supreme Court president for the strike, attributing it to poor leadership.
In a proposed compromise, the Morena party plans to implement the reform in stages, starting with the election of all Supreme Court judges next year and half of all magistrates. The remaining positions would be filled by election in 2027.
In conclusion, the ongoing strike in Mexico's judiciary is a significant development that could have far-reaching implications on the country's governance and legal system. Investors and citizens alike should closely monitor the situation as it unfolds to understand how it may impact their lives and finances.