On Sunday, 10 December, Javier Milei, the new right-wing President of Argentina, was officially inaugurated into office. The ceremony took place in the Buenos Aires legislature, where outgoing president Alberto Fernández passed the presidential sash to his successor.

In his inaugural address, the 53-year-old politician spoke about drastic economic reforms, emphasizing the necessity of a ‘budget shock therapy.’

Milei went on to highlight the challenging economic situation inherited from the previous administration, which left the state treasury empty and the country mired in hyperinflation. He stressed the need to align the budget with these circumstances, stating that there is no alternative to austerity measures and the aforementioned ‘shock therapy’.

‘Today marks the beginning of a new era; the rebuilding of Argentina’s commence,’ declared the new president. ‘There is no alternative to austerity measures and shock therapy. I reiterate: we have no funds,’ he added.

The inauguration ceremony was attended by various dignitaries from all over the world, including Hungary’s Prime Minister Viktor Orbán, King Felipe VI of Spain, Gabriel Boric of Chile, Luis Lacalle Pou of Uruguay, Santiago Pena of Paraguay, and Volodymyr Zelenskyy of Ukraine.

Photographs and television footage from the inauguration revealed a meeting and exchange of words between PM Orbán and President Zelenskyy.

In response to an inquiry, Bertalan Havasi, the press chief of the Hungarian Prime Minister, stated that Prime Minister Orbán had told President Zelenskyy that negotiations among EU Member States concerning Ukraine’s accession to the European Union are ongoing.

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Source: Hungarian Conservative/MTI