Brazil President Sees Sunny Side of US Crisis: Obama’s Victory

Barack Obama Brazilian President, Luiz Inácio Lula da Silva, sees a silver lining in the recent US economic meltdown. Talking in São Paulo, during an award ceremony for the most admired Brazilian companies, sponsored by left-leaning magazine Carta Capital, Lula said he believes that the current crisis will help senator Barack Obama become the next American president.

"Among the benefits that this crisis will bring is that it will elect Obama president of the United States, it will elect a black. What's not small potatoes," stated the Brazilian leader adding:

"Maybe there aren't that many ideological and conceptual differences between Democrats and Republicans but from a symbolic point of view it's a serious stuff that this world has elected a lathe operator for the second time in Brazil, elected an Indian in Bolivia, a bishop in Paraguay, and a black in the United States," said the president talking  off the cuff.

Lula complained that it took the American government one year to take steps against the crisis. Once again he blamed the US and its casino mentality for the global financial crisis. The president called the economic disaster fruit of "irresponsible gambling."

Lula used the award ceremony to thank Roger Agnelly, chairman of the mining giant Vale for having made it public that his company will keep its commitment to continue its planned investments in Brazil.

He also gave assurances that his administration will not make cuts in the resources allocated for infrastructure: "Not even one real will be taken from any project belonging to the PAC (Growth Acceleration Program) in this country," he promised

The Brazilian president stated that the financial help promised by the United States and European governments should produce results pretty soon. Lula reasoned that's not possible that US$ 3 trillion injected in the international financial system won't produce some positive effect.

Lula believes that Brazil has everything to overcome the crisis, because of what he sees as three favorable characteristics: "Our system is more serious than the international financial system; we have a financial system, with a public face rarely found in other countries; and our domestic market has room to grow."

According to the Brazilian president, it's up to Brazil and other developing countries the task of saving the world economy. "The emerging countries are the ones that are going to find a solution for the international crisis," he stated.

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