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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Fred Levine who wrote (9329)	11/1/1998 10:34:00 PM
From: Steve Fancy	Read Replies (2) \| Respond to of 22640

Thanks Fred...hope your story was written after this one... Brazil resistance to G7-pleasing thrift plan grows Message 6243833 This story read pretty bad to me...sounded like it could easily undo Friday's gains. Maybe it's not as big a deal as I took it to be. Didn't like this paragraph in particular, but maybe this is old news and factored in. Brazil's influential newsmagazine Veja said this week that more than 80 percent of the package depended on Congress and the opposition was lining up in an unprecedented united front. After reading some of the opposition comments it sounds like they may be in basic agreement that a squeeze must be performed, just through what means perhaps. I saw one opposition comment that they were working up alternatives. If the majority have a common goal of sticking close to the figures Cardoso presented, then I say there's a good chance we pull this off before year end. On the other hand, if the majority just plain don't like a budget plan and IMF backing we may be in trouble. We shall see. Seems tomorrow always comes. regards, sf