Financial crisis: Brazilian despair bursts into the open

Bankers sign up to open letter decrying the government’s handling of the crisis.

Jose Olympio Pereira, CEO of Credit Suisse Brazil, is one of the most upbeat bankers I have ever met. Over the decade I have spent in the country, his outlook on the Brazilian economy has consistently been an outlier to the upside.

Olympio has gone through Brazil’s many challenges – its deepest ever recession, popular protests and impeachments – with a view that the glass, while perhaps not quite half full, is at least one-third full and sure to be topped up soon.

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