An ill‐defined Argentinian political ideology, also known as justicialismo, which espouses Juan Perón's policies of social justice, economic nationalism, and international non‐alignment. It remained strong within Argentina after Perón's departure in 1955, largely among the trade unions, which cherished the memory of the early years of his presidency. In May 1989, the Peronist Menem was elected President, but his economic programme, including the privatization of state‐owned industries to foreign buyers, betrayed many Peronist principles. Indeed, Menem managed to redefine Peronism as a movement of compromise. It shed its traditional image of a party composed of rowdy trade unionists and led by shady Mafia‐type characters, and moved to attract the political centre ground. Under Eduardo Duhalde, the Peronists lost the 1999 presidential elections, but he became President amidst a deep economic and political crisis in December 2001. Duhalde was succeeded by Néstor Kirchner in 2003, under whom the Peronist Justice Party continued to defend its overwhelming majority in parliament. Kirchner did not stand in 2007, supporting the successful candidacy of his wife, Cristina Fernández de Kirchner.