Lula Defies Advisors, Triggers Market Plunge That Poses Risks to the Economy
The risks were starkly evident. President Luiz Inácio Lula da Silva’s top economic advisors had repeatedly warned him: tampering with the fiscal austerity plan would trigger a selloff in Brazilian financial markets. Despite these warnings, Lula chose to ignore them. He instructed his team to include tax-relief measures for the poor in the package, undermining […]