Brazil's Lula Is Coming Back and Investors Don't Like It One Bit
- Investors fear change in economic policy, drawn-out gridlock
- Lula's 2008 stimulus policy won't work today, Schwartsman says
Critics: Recordings Show Rousseff Was Shielding Lula
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Brazil’s former president is back.
Luiz Inacio Lula da Silva’s appointment as President Dilma Rousseff’s chief of staff is rekindling concerns about changes in economic policies, similar to those investors had before he was first elected in 2002. Speculation the nomination was coming had fueled a rout in assets the past few days; stocks, bonds and the currency extended losses after the announcement on Wednesday before recovering later in the day.