Word: brazilianizing
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...many observers, the banks' decision to reclassify Brazilian loans is as much a negotiating ploy as a financial move. Brazil may have hoped that the prospect of forgone interest income and sharply reduced bank profits would force U.S. lenders to give in to its demands for easier terms. But now that several major banks no longer assume they will receive Brazilian interest anytime soon, the debtor's threat to withhold payment indefinitely is less menacing. Says one banker: "We are saying to Brazil, 'We can survive.' " New negotiations begin this week in Manhattan between representatives of U.S. banks and Brazilian...
...Brazilian posture was outlined by Finance Minister Dilson Funaro in a speech he gave last week before the ruling Brazilian Democratic Movement Party. Funaro repeated his vow to withhold interest payments until a debt- restructuring agreement is worked out. Any pact, he said, must involve a reduction in Brazil's interest obligations. Such a decline is necessary, Funaro argued, in order for the Brazilian economy to expand...
DESCRIPTION: Color chart showing the Brazilian losses for five American banks...
...everyone, however, has been delighted with McDonald's hamburger imperialism. In the Brazilian city of Sao Paulo, where McDonald's has 16 outlets, hundreds of local restaurant owners and tavernkeepers marched through the streets last May to protest the incursion of American junk food, shouting, "Down with hamburgers!" and "Long live the corner bar!" Despite such friction, McDonald's plans to open 200 foreign outlets this year...
Burger bashers, watch out ! McDonald' s is on a roll again. -- Banks boost the prime rate and concede trouble on Brazilian loans...