Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
They were anti-IMF that is for sure.

But that is not the issue. The issue is how did they get rid of it? They opted for paying. Super-avits of 4.5% year over year.

Brazil's model is not one of "sticking the finger to creditors", au contraire.

I am not saying that it is a good model to follow (I actually think it is an IMPOSSIBLE model to follow).

But in name of getting the history correct (my only point here, nothing more), the Brazilian case is not one of defaulting or anything like that.

by cagatacos on Mon Feb 18th, 2013 at 11:31:01 AM EST
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