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IdentifierCreatedClassificationOrigin
09SAOPAULO218 2009-04-09 21:28:00 UNCLASSIFIED Consulate Sao Paulo
Cable title:  

MEDIA REACTION - Media Reaction SP Weekend Edition- IMF

Tags:   KMDR OPRC OIIP XM XR XF BR 
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DE RUEHSO #0218 0992128
ZNR UUUUU ZZH
O 092128Z APR 09
FM AMCONSUL SAO PAULO
TO RUEHC/SECSTATE WASHDC IMMEDIATE 9105
INFO RHEHNSC/NATIONAL SECURITY COUNCIL WASHDC IMMEDIATE
RUEHBR/AMEMBASSY BRASILIA PRIORITY 0252
RUEHRI/AMCONSUL RIO DE JANEIRO PRIORITY 9110
					  					
UNCLAS SAO PAULO 000218

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 XM XR XF BR
SUBJECT: MEDIA REACTION - Media Reaction SP Weekend Edition- IMF
strengthened by G20, Images and numbers, Smiles in London, Reasons
for optimism about the G20, Light, finally? 04-05-2009

Media Reaction Themes- Global Economy: G-20 summit readout;
financial market crisis; IMF

Weekend Edition April 4, 5, 2009

Title- IMF strengthened by G20

Editorial in center-right O Estado de Sao Paulo (4-4) states:"The
crisis did good things for the International Monetary Fund (IMF).
Its influence increased since the burst of the housing bubble,
almost 2 years ago, and G20 Chiefs of States, gathered in London,
emphasized its importance to fight recession and prevent new
financial disasters....The smaller the integration of national
governments in the regulation of financial systems, the greater will
be IMF's role to supervise and warn....Under pressure from [U.S.]
Congressmen and the Central Bank, the Financial Accounting Standards
Board approved an easing of the rules...It does not seem to be a
good start for greater discipline....It's worth it for developing
countries, to preserve the IMF and work for its improvement, more
than depending directly and exclusively on the financial market."

Title- Images and numbers

Op-ed in liberal Folha de S. Paulo (4-4) by Fernando Rodrigues
comments: "The images of the [G20] meeting and the ideas produced
for media consumption are a classic case in which one good turn
deserves another. [President] Lula served to the rich and the rich
served to Lula with everything going well on the political front.
No one knows if there will be practical measures to fight the
crisis. For some, this is the least relevant point. In the case of
Lula, the vital thing is to keep his popularity intact during the
turbulence...."

Title- Smiles in London

Editorial in liberal Folha de S. Paulo (4-5) says: "The deal reached
[in London], relatively ample, made the G20 Summit conclude with
fireworks and sounds of official fanfare...It's always healthy, in
the midst of so many commemorations, to maintain a spirit of
skepticism....Excessiveness aside, the path of the world is slowly
changing - and Brazil finds a new place in this transition."

Title- Reasons for optimism about the G20

Editorial in center-right O Estado de Sao Paulo (4-5) notes: "Maybe
the most adequate evaluation criterion [for the G20] is the one that
allows evaluating the political meaning of G20. And in this sense,
there are reasons for optimism....By firming itself up as a
multilateral institution, the G20 may go through the first
substantial change in its obsolete political architecture created
during the midst of the horrors of the World War II and whose
reforms have been demanded by many countries, among them Brazil."

Title- Light, finally?

Op-ed in center-right O Estado de Sao Paulo (4-5) by former
President Fernando Henrique Cardoso states: "....Finally global
leaders begin to take the right steps....Today, in face of the
impossibility of national states controlling the financial crisis,
the strengthening of the global order begins to take place....In
London, leaders said they expect the economy to flow again by the
end of 2010. Let's hope for the best....Nevertheless, if it results
in failure, protectionism and warlike nationalism may come back to
the scene. Therefore, I hope that the G20 meeting does not end up
being a photographic opportunity."
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