Brazilian President Luiz Inacio Lula da Silva says that his country will not be impacted by the financial crisis that is affecting the US.”People ask me about the crisis, and I answer, go ask Bush. It is his crisis, not mine. I have to look after my country so that it is not affected,” Lula said in the northeastern Brazilian town of Mossoro.

The Brazilian president said his country has more than USD 200b in reserves and is afforded a measure of protection from turbulence in the world’s financial markets. He drew a sharp contrast between Brazil’s current situation and its position last decade.

“Just imagine if the crisis had happened 10 years ago. Then, a sneeze in the United States’ real estate crisis would have caused pneumonia in Brazil,” Lula said.

This entry was posted on Thursday, October 2nd, 2008 at 7:39 pm and is filed under Hot News, News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.