The project to build the new airport in Texcoco is virtually canceled. Immediately, the most important economic indicators showed a negative impact of the referendum result. The peso and the Mexican Stock Exchange had its biggest devaluation in one day since November 2016, when Donald Trump won the U.S. presidential election .
Also, for the first time in many years, the business elite expressed their rejection of the decision made by the incoming government. How to stop the storm?
The companies who had contracts to participate in the construction have the right to complain about the cancellation of the project and to demand a payment for damages. The government taking office on December 1st will have to comply with what was stated in the contracts, in the event of a cancellation. Yesterday, it was revealed that there will be talks between the current government and the contractors to stop the works properly. The dialogue must begin soon.
One of the most serious damages that may take place in Mexico is in regards to its image. The suspension of the construction sends a bad signal to other countries, that could be understood as disdain towards what was approved by the current administration, which would generate fear in regards to the other agreements achieved by the outgoing government.
The measure has to be explained to the i nternational community to prevent the perception that the cancellation of constructions will be recurrent in the incoming government, therefore, it could promote the discouragement of foreign investors . The foreign capital that creates businesses shouldn't have to think twice if Mexico is a trustworthy country to invest.
The unrest the cancellation of the Texcoco airport caused in the political and economic sectors seems to bring back the polarization that characterized the previous presidential campaigns . That is precisely the biggest risk, that a confrontation atmosphere sets in once again.
The country needs to return to the atmosphere on July 1st when Mexico shocked the world by choosing a new political transition in the midst of the best democratic practices, as well as to return to the messages that privilege unity , stability , and the need to place the county in the center of every decision.
After the cancellation of the Texcoco project, it is urgent to begin a healing process, with respect to legality as its core.