Argentina's President Kirchner Sworn in for Second Term
Argentine President Cristina Kirchner was sworn in Saturday to a second four-year term at the peak of her popularity but with the country's booming economy shadowed by Europe's financial crisis.
The 58-year-old took the oath of office, invoking her late husband and predecessor Nestor Kirchner, and then received the presidential sash from her daughter Florencia amid cheers and applause in Congress.
Outside Congress, thousands of young Argentine followers watching the ceremony on a giant screen shouted "Cristina, Cristina."
The presidents of Brazil, Uruguay, Chile, Paraguay and Bolivia attended the swearing-in ceremony, along with lawmakers and supporters from her Peronist party.
Kirchner was re-elected October 23 with 54.11 percent vote, a single round landslide that buried her nearest competitors and won her back control of Congress.
A slew of popular social programs and years of strong, virtually uninterrupted economic growth powered her re-election a year after her husband's sudden death of a heart attack.
Still in mourning, Kirchner wore black to her swearing-in ceremony and ended the oath of office with a reference to her husband, declaring "May God, country and he hold me to account."
She was due to deliver a speech to the Congress later in the day outlining her plans for her second term, and was expected to stick to policies of support for domestic industries and consumer spending despite the storm clouds over Europe.
"Nothing and no one can force us to change course," Kirchner said Wednesday, the last official day of her first term as president of the vast South American nation of 40 million.
When Kirchner took office at the start of her first term in 2007, the country's economy was in a slump with 0.9 percent growth, and the following year found her in fierce battles with the country's powerful agriculture sector.
But under the Kirchners, Argentina has had a stretch of good years with growth averaging an enviable eight percent a year between 2003 and 2008, and last year saw 9.2 percent growth.
The outgoing vice minister of the economy, Roberto Feletti, forecast "prudent" growth next year of 5.1 percent. But fears of recession in Europe and slowing growth elsewhere will pose challenges for Argentina.
Kirchner "begins her mandate politically stronger than in 2007 but with a more complex economic outlook. The global crisis is a threat here as it is everywhere else," said Rosendo Fraga of the Nueva Mayoria institute.
The government has slashed costly energy and transport subsidies, while taking draconian measures to slow capital flight, which has put a dent in Argentina's foreign reserves.
Economists estimate capital flight has neared $68 billion over the past four years, including $22 billion this year alone.
Kirchner's new vice president is Amado Boudou, her former economy minister. Other members of the cabinet to be sworn in later include new cabinet chief Juan Manuel Abal Medina and current Finance Secretary Hernan Lorenzino as economy minister.
The opposition, which suffered a major defeat in the elections, is hoping Kirchner will be open to dialogue in the new term.
"I am optimistic and I hope we can face, all of us together, the challenges of the global crisis," said Ricardo Alfonsin, who ran for president as the candidate of the Radical Civic Union, which came in third with 11.7 percent of the votes.
Glamorous and known for her sharp tongue, Kirchner has shown a more consensual style than her late husband, making efforts to improve relations with key sectors like industry and agriculture.
Nestor Kirchner made his mark by pulling the country out of a financial meltdown of 2001.
He cut off talks with the International Monetary Fund after Argentina defaulted on almost $100 billion in foreign debts, and restructured its massive debts and promoted spending.
In doing so, he set the basis for a political current known as "Kirchnerism" within the diverse and powerful Peronist movement of three-time former president Juan Peron and his populist second wife Evita.
