Word: fernando
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BRASILIA, Brazil: President Fernando Henrique Cardoso has finally rolled out the gritty details of his long-awaited austerity plan: tax hikes and spending cuts on nearly everything he's constitutionally allowed to touch. "It's a bold plan," says TIME senior economics reporter Bernard Baumohl. "It's what he promised both the IMF and the Brazilian people." Now for the hard part: getting it past Congress...
Brazilians amended their constitution in 1997 to allow President Fernando Henrique Cardoso to seek a second term in last Sunday's election. Cardoso, 67, a left-wing academic turned free marketer, has stamped out hyperinflation and given many of his 165 million countrymen their first real faith in democracy, capitalism and Brazil's titanic potential. Another four years, they hoped, would complete the dream. But now they'll need Cardoso's leadership just to stop the country's sudden nightmare of recession, unemployment and staggering deficits...
...PAULO, Brazil: The presidential election is over, and the first-ballot reelection of the IMF's preferred candidate, Fernando Henrique Cardoso, looks sewn up. So where's his reward -- the $30 billion bailout? For one thing, the IMF and the U.S., along with the rest of the G-7 nations, are still working on it. For another, it's supposed to be a secret...
...JANEIRO: Congratulate the Brazilian people for their farsightedness: The current global contagion that has pushed Brazil's government to the brink of disaster has visited equal hardship on its people, yet the nation is poised to reelect President Fernando Enrique Cardoso with the full knowledge that he has even deeper hardship in store. Rarely have the IMF and its usual victims -- ordinary citizens -- been in such agreement...
...enough to be in on the joke. In his personal life too, the longtime cast member of Saturday Night Live and NewsRadio seemed to be one of the few who appreciated the humor of celebrity, keeping his life in balance and low-key: a home in the unglamorous San Fernando Valley, a position as honorary sheriff in his town and a steady income from his TV show, small movie roles and voice-overs. So what happened early last Thursday morning--the day after the comic tested a new speedboat--did not fit the role everyone was used to: Hartman...