When you hear news comings from Brazil , do not take it so seriously, except the reports posted by R.Magellan.
The Minas Gerais State non-negotiated moratorium of its debts for 90 days amount 12 million dollars only and it is very small to be capable to do so many damages around the world .
The president Mr. Fernando H.Cardoso, attributed a false fact accusing Mr. Itamar Franco, former-president and Minas Gerais State Governor as responsible for the crisis when the true fact is due to brazilian currency exchange problems in relation to american dollar.
Mr. Gustavo Franco's resignation was almost one month waited, because he was involved with the last brazilian privatizations program crisis.
Or would Brazil be the only speculative money paradise of the world?
There are other paradises, still........
emilio