Paradoxically, while seemingly aimed at proving the President's revolutionary credentials, the bank nationalization also backfired by failing to win over the Left.

In years past, Mexican presidents have used the State of the Nation report to announce significant shifts in economic policy, like bank nationalizations, currency devaluations and land expropriations.

While some television stations played a crucial role in the campaign against the bank nationalization, the written press provides the main arena for political debate.

The banks, which were not nationalized at the time of bank nationalization that took place during 1969 and 1980 are known to be the old private-sector banks.

September 1 - During his last government report, president José López Portillo decretes the bank nationalization.

But fearful of a Communist-inspired bank nationalization, they have little choice but to continue to support Mr. Yeltsin.

To occupy the middle ground, the President had to abandon socialist policies like bank nationalizations, which brought economic disarray.

And in Peru, its gospel of "a new culture" based on rewarding individual effort was used to fire up thousands of people who rallied against the recent bank nationalization.

The days of hot debates over issues like land redistribution and bank nationalization have been replaced by nods by both candidates to a free-market economy, human rights and an independent judiciary.

"Over the next few months there issued from the council hundreds of rulings and laws, dealing with everything from bank nationalization to nurses' salaries."