segunda-feira, 10 de novembro de 2014

Brazilian leader’s economic head-fake

Brazilian President Dilma Rousseff won’t begin her second term until Jan. 1, but if the first week after her re-election is any indication, the coming four years will be stinkers. 

After a bitter campaign, the Workers Party leader made all the right noises, leavening her victory speech with grace notes about “dialogue,” embracing reforms and tackling corruption. The Sao Paulo stock index promptly plunged, rallied, then tumbled again as investors parsed the policy chatter and weighed the chances that she may name a conservative, market-minded executive to replace the divisive lame-duck Finance Minister Guido Mantega.

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