MercoPress. South Atlantic News Agency
Brazilian ex-central bank orthodox president is back on stage called by Lula da Silva
Meirelles and Finance Minister Joaquim Levy delivered speeches to business leaders in Brasilia after having lunch together 
President Rousseff is under growing pressure from lawmakers, mostly from her own Workers' Party, to replace Levy, whom they accuse of deepening recession 
Meirelles, an orthodox economist widely praised on Wall Street, echoed Levy's urgency to push ahead with austerity to regain investors' trust Brazil's former central bank chief Henrique Meirelles said on Wednesday he was not invited to take over the finance ministry and insisted the government needs to push ahead with unpopular austerity measures to pull the economy out of recession.
Meirelles and Finance Minister Joaquim Levy delivered speeches to business leaders in Brasilia after having lunch together amid speculation that the former central banker was ready to take over the administration's economic team.
President Dilma Rousseff is under growing pressure from lawmakers, mostly from her own Workers' Party, to replace Levy, whom they accuse of defending budget cuts that are deepening the country's recession, the worst in 25 years.
Still, Meirelles, an orthodox economist widely praised on Wall Street, echoed Levy's urgency to push ahead with austerity to regain investors' trust and bring back growth.
“We cannot underestimate the current situation, which has to be faced vigorously with a complete fiscal adjustment and pro-growth reforms,” Meirelles said in his speech.
Brazil's currency and stocks rallied on Wednesday amid growing speculation that Meirelles could return to the government.
Meirelles, a former chief operating officer of BankBoston Corp, now part of Bank of America Corp, is seen by markets as an avid political player capable of pushing through difficult savings measures and other structural reforms to reinvigorate the once-booming economy.
When asked later by reporters if he had received an invitation to the finance ministry, Meirelles said: “There is no formal invitation”. He declined to answer whether there were negotiations or informal talks with Rousseff about the finance ministry.
Former President Lula da Silva, who is Rousseff's predecessor and mentor, has told some lawmakers that he backs Meirelles for the job, a senior Workers' Party lawmakers anticipated last week. Apparently his 'comeback' from retirement takes place on requests from Lula da Silva in support of the austerity program, but not as a high profile player.
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Read all commentsHes gonna reestablish confidence when theres public calls for lula to be in jail and dilma gives angry speeches on how any question of her disastrous management is golpismo.
Nov 12th, 2015 - 10:59 am 01 313toBioBio
Nov 12th, 2015 - 02:18 pm 0“Brazilian President Dilma Rousseff and her predecessor Luiz Inacio Lula da Silva have been exonerated of all responsibility in the Petrobras scandal in a report released this Monday by the parliamentary commission in charge of the investigation.”
http://www.telesurtv.net/english/news/Brazilian-President-Rousseff-Exonerated-in-Petrobras-Scandal-20151019-0036.html“.
Apparently this Nobel prize winning economist doesn't agree with your perception. ”Brazilian Economy Can Easily Recover, Says Nobel Prize Winner Paul Krugman; ..Brazil has what it takes to get out of the present crisis as soon as the inflation drops…. The economist said the Brazilian economy is more solid than in the past, especially regarding the external accounts. He also said the current inflation is fuelled by the high exchange rate and not by structural factors as in the 90's.
http://www.telesurtv.net/english/news/Brazilian-President-Rousseff-Exonerated-in-Petrobras-Scandal-20151019-0036.html“.
@1 313toBioBio
Nov 12th, 2015 - 02:48 pm 0You'll notice that Twinkle Toes has come back with a vengeance....If he says Dilma and Lula are innocent, you had better back down...or else !
He's put his dancing shoes on and - in his perception - has danced all over you.....Don't you feel bad ?
The truth is, he has pulled his inflatable dancing partner out of the closet - where TT himself should never have come out of - and is prancing around like a ballerina...
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