Argentina’s former president wants to be Veep

HÉCTOR CáMPORA, a dentist and second-rank politician, won an election in Argentina in 1973 with the slogan “Cámpora to the presidency, Perón to power”. Having served his purpose as a placeholder, Cámpora resigned after 49 days. Juan Perón returned from long exile and went on to win an election himself. This episode is etched on Argentine memories. It explains why some scoffed when on May 18th Cristina Fernández de Kirchner, a populist former president, made the surprise announcement that she was running in October’s election—but for vice-president on a slate headed, at her invitation, by Alberto Fernández (no relation), who was briefly her cabinet chief.

So is this a ruse, or an act of brutal political realism? Ms Fernández divides Argentines. When in 2007 she succeeded her (late) husband, Néstor Kirchner, as president, Argentina was riding the commodity boom. She slammed taxes on farmers and spent the proceeds on padding the public sector, on welfare and on subsidies for fuel and transport. When the economy overheated, her government imposed price and exchange controls and fiddled the inflation numbers. When money got tight it raided the central bank and pension funds. Through it all, insiders made corrupt fortunes. Ms Fernández herself went on trial this week in the first of several corruption cases (she denies wrongdoing). Around a third of Argentines (mainly the poorer ones) love her; many of the rest abhor her.