Reported 13 days ago
In a recent interview, Brazilian President Luiz Inacio Lula da Silva urged Congress to set an example by cutting spending in an effort to combat the 'speculative greed' of financial markets. As the Brazilian real weakens against the dollar, Lula emphasized the need for fiscal discipline and stated that cuts should not burden the most vulnerable citizens. He pointed out that while his administration views spending on social programs as investments, economists caution that without changes, the fiscal framework could become unstable.
Source: YAHOO