Brazil will have a tough time convincing its risk-averse fellow BRICs to bankroll a European rescue no matter how the aid is structured
http://www.reuters.com/article/2011/09/20/us-eurozone-brics-idUSTRE78J1DB20110920
Brazil: Euro Zone Must Fix Crisis Before Getting Aid
NEW YORK (Dow Jones)--Brazil has set a high bar for providing support to the euro zone under a potential plan that would involve other large developing nations, demanding that the common currency bloc first find concrete solutions for its sovereign-debt crisis.
"Europe has to save itself because it has the tools to resolve the sovereign debt problem of Greece and other countries and the problem of bank weakness," Brazilian Finance Minister Guido Mantega said Tuesday in an interview with Dow Jones Newswires and The Wall Street Journal. "If they don't, the emerging countries...will have little to do because the central issues aren't resolved."
http://online.wsj.com/article/BT-CO-20110920-713472.html
Wednesday, 21 September 2011
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