Javier Milei vs Marcelo Caetano

On his first day in office, Milei's economy minister Luis Caputo devalued the official peso by 50% to 800 per US dollar. This was part of a shock therapy to address hyperinflation and fiscal deficits.

Javier Milei won the 2023 Argentine general election runoff with 55.7% of the vote against Sergio Massa. He assumed office on December 10, 2023, as a libertarian outsider, the first such figure to lead Argentina.

Milei's government reported a fiscal surplus for the first quarter of 2024, the first quarterly surplus since 2008. This was achieved through deep spending cuts, including to subsidies and public works.

Milei submitted a sweeping omnibus bill to Congress proposing deregulation, privatization, and labor reforms. The bill sparked massive protests and was later withdrawn after failing to gain sufficient legislative support.

Caetano continued Portugal's costly colonial wars in Angola, Mozambique, and Guinea-Bissau, resisting independence movements. The wars drained resources and caused growing opposition within the military and society.

Caetano succeeded Ant

Caetano was overthrown by a military coup known as the Carnation Revolution, led by left-wing officers. The bloodless coup ended the Estado Novo regime and led to the establishment of democracy in Portugal.

After the Carnation Revolution, Caetano was exiled to Brazil, where he lived until his death in 1980. He was not prosecuted for his role in the regime, but remained a controversial figure.