Identifier
Created
Classification
Origin
09SAOPAULO68
2009-02-02 12:12:00
UNCLASSIFIED
Consulate Sao Paulo
Cable title:
Media Reaction Sao Paulo February 02 2009
how-toVZCZCXYZ0006 OO RUEHWEB DE RUEHSO #0068 0331212 ZNR UUUUU ZZH O 021212Z FEB 09 ZDK FM AMCONSUL SAO PAULO TO RUEHC/SECSTATE WASHDC IMMEDIATE 8914 INFO RHEHNSC/NATIONAL SECURITY COUNCIL WASHDC IMMEDIATE RUEHBR/AMEMBASSY BRASILIA PRIORITY 0069 RUEHRI/AMCONSUL RIO DE JANEIRO PRIORITY 9006
UNCLAS SAO PAULO 000068
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 Sao Paulo February 02 2009
Media Reaction - Global Economy: Financial market crisis; Sao Paulo
February 2, 2009
Title- Worsening Scenario
Editorial in liberal in Folha de S.Paulo (2-2) says: "The U.S. GDP
dropped 3.8% in the last quarter of 2008. Even if the decline was
lower than expected; it is the largest since 1982 - which confirms
the worsening of the crisis....The deterioration of the economic
environment continues to impose new losses on international banks.
With it, the risk aversion persists, which re-feeds a pernicious
circle between the financial markets and economic activity. In
front of this scenario, the International Monetary Fund correctly
suggests that an economic rebound will not be possible until
financial markets have their functions restored and the credit
market is unobstructed."
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