Palocci caiu ontem. Rei morto, rei posto.

Não custa lembrar a época em que ele era todo poderoso:

"ANTÔNIO PALOCCI, Brazil's finance minister, is on his way to acquiring the aura of infallibility that surrounds the most successful members of his guild. Since an election last October brought to power the leftist Workers' Party (PT), which has a history of anti-market sloganeering, Mr Palocci has worked to reassure sceptics that Brazil would pay its debts, curb its budget deficits and tame inflation. He seems to be succeeding. Brazil's currency, the real, has appreciated (see chart). The risk premium that investors demand for holding Brazilian debt has dropped from nearly 20 percentage points in October to just above ten now. Mr Palocci "is doing impeccable work," says Octavio de Barros, of BBVA Banco in São Paulo. That will last, Mr de Barros thinks, as long as Brazil's new president, Luiz Inácio Lula da Silva, backs his minister."

Leia toda a matéria da Economist de março de 2003.

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