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In page Carlos Salinas de Gortari:

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Salinas faced widespread criticism in Mexico. He was widely blamed for the collapse of the economy and his privatization of several government-run businesses such as Telmex.[citation needed] With respect to the collapse of the economy, he rapidly responded by blaming Zedillo's "inept" handling of the situation, coining the term "December mistake" to refer to the crisis and Zedillo's mistakes. He then argued that he had talked to Zedillo of a possibility of "sharing the burden" of the devaluation by allowing the peso to devaluate a certain percent before his term was over, and the rest of the necessary devaluation would have been done during Zedillo's administration.