Brasília – Brazilian president Luiz Inácio Lula da Silva defended today (10), in a press conference to news agencies, at Planalto Palace, the seat of the government of Brazil, the reformulation of Central Banks worldwide, as this is a good moment for the world to readjust itself. He said that, even before the crisis that is being lived, he had defended this point of view in meetings with several heads of state.
Lula recalled that whenever Brazil was in crisis, the voices of the financial system that is breaking said that the country needed to adjust its fiscal policy. However, the Central Bank of Brazil is now stabler than it has been at almost any moment in history. Lula stated that Central Banks must review their leverage margin, which is always very high due to reality.
"Nobody can negotiate what he does not have, and the transfer of funds in virtual form, when only paper is sold, is the cause of the financial crisis that is now taking place," said the president of Brazil.
*Translated by Mark Ament
