Identifier
Created
Classification
Origin
08SAOPAULO30
2008-01-23 10:20:00
UNCLASSIFIED
Consulate Sao Paulo
Cable title:
MEDIA REACTION: ECONOMY: STOCK EXCHANGE TURBULENCE;
how-toVZCZCXYZ0003 OO RUEHWEB DE RUEHSO #0030 0231020 ZNR UUUUU ZZH O 231020Z JAN 08 FM AMCONSUL SAO PAULO TO RUEHC/SECSTATE WASHDC IMMEDIATE 7835 INFO RHEHNSC/NATIONAL SECURITY COUNCIL WASHDC IMMEDIATE RUEHBR/AMEMBASSY BRASILIA PRIORITY 8991 RUEHRI/AMCONSUL RIO DE JANEIRO PRIORITY 8545 RUCPDOC/USDOC WASHDC 3011
UNCLAS SAO PAULO 000030
SIPDIS
SIPDIS
STATE INR/R/MR; IIP/R/MR; WHA/PD
DEPT PASS USTR
USDOC 4322/MAC/OLAC/JAFEE
E.O. 12958: N/A
TAGS: KMDR OPRC OIIP ETRD BR
SUBJECT: MEDIA REACTION: ECONOMY: STOCK EXCHANGE TURBULENCE;
MIDEAST, GAZA STRIP; SAO PAULO
"Boldness Versus Fear"
Center-right national circulation daily O Estado de S. Paulo's lead
editorial maintained (1/23): "The Federal Reserve showed boldness by
reducing 0.75% of the U.S. prime rate.... What caused panic in
international stock exchange markets was President Bush's address
announcing a series of fiscal measures last Friday.... The Fed's
decision immediately calmed down the markets...but the NYSE operated
under tough nervousness.... When the fiscal measures announced by
the president are implemented, calm may return to the markets....
However, it's premature to say that the market's instability is
over. The feeling that the U.S. crisis is more profound than one
imagined is still strong.... In Brazil, contrary to what happened in
crises during the past decade (Mexico, Asia and Russia),the economy
is now in excellent condition to face financial turbulence without
major problems, thanks especially to the comfortable situation of
its foreign accounts. Even so, if the international crisis worsens,
its effects will certainly affect Brazil."
"Gaza Again"
Liberal, largest national circulation daily Folha de S. Paulo
editorialized (1/23): "The blockade imposed on the Gaza Strip is for
Israel a legitimate way to put pressure on the Islamic radical group
Hamas to prevent the launching of homemade rockets against its
territory. Obviously, the Palestinian militias responsible for such
an aggression have acted under the Islamic group's orders, or at
least with its connivance. Hamas refuses to participate in peace
negotiations with the Israelis.... It is not reasonable to suppose
that Israel, under daily rocket attacks, will remain quiet."
White
SIPDIS
SIPDIS
STATE INR/R/MR; IIP/R/MR; WHA/PD
DEPT PASS USTR
USDOC 4322/MAC/OLAC/JAFEE
E.O. 12958: N/A
TAGS: KMDR OPRC OIIP ETRD BR
SUBJECT: MEDIA REACTION: ECONOMY: STOCK EXCHANGE TURBULENCE;
MIDEAST, GAZA STRIP; SAO PAULO
"Boldness Versus Fear"
Center-right national circulation daily O Estado de S. Paulo's lead
editorial maintained (1/23): "The Federal Reserve showed boldness by
reducing 0.75% of the U.S. prime rate.... What caused panic in
international stock exchange markets was President Bush's address
announcing a series of fiscal measures last Friday.... The Fed's
decision immediately calmed down the markets...but the NYSE operated
under tough nervousness.... When the fiscal measures announced by
the president are implemented, calm may return to the markets....
However, it's premature to say that the market's instability is
over. The feeling that the U.S. crisis is more profound than one
imagined is still strong.... In Brazil, contrary to what happened in
crises during the past decade (Mexico, Asia and Russia),the economy
is now in excellent condition to face financial turbulence without
major problems, thanks especially to the comfortable situation of
its foreign accounts. Even so, if the international crisis worsens,
its effects will certainly affect Brazil."
"Gaza Again"
Liberal, largest national circulation daily Folha de S. Paulo
editorialized (1/23): "The blockade imposed on the Gaza Strip is for
Israel a legitimate way to put pressure on the Islamic radical group
Hamas to prevent the launching of homemade rockets against its
territory. Obviously, the Palestinian militias responsible for such
an aggression have acted under the Islamic group's orders, or at
least with its connivance. Hamas refuses to participate in peace
negotiations with the Israelis.... It is not reasonable to suppose
that Israel, under daily rocket attacks, will remain quiet."
White