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Lula's predecessor, Fernando Henrique Cardoso, was the first President to recognize that change was needed. He restored fiscal sanity by slaying hyperinflation, but his attempts at social reform were timid. Lula's victory in 2002 panicked Wall Street and the Brazilian élite. But instead of defaulting on Brazil's foreign debt or busting the budget, as they feared he would, Lula embraced one of the few positive legacies of Brazil's royalist roots: deliberate, negotiated consensus-building. It's a hallmark of Brazil's widely respected diplomatic corps - and it tempered Lula even when he was a metal...

Author: /time Magazine | Title: The One Country That Might Avoid Recession Is... | 3/5/2009 | See Source »

...boom allowed Lula to aid the poor; Lula argues his antipoverty crusade fueled the economic growth. It's a chicken-and-egg debate, in which both sides are right. What matters is that social stimulus programs like Bolsa Família have been matched by fiscal measures like a reform of Brazil's engorged civil service pension system. "It's called doing things right," says Lula. "Allowing the rich to earn money with their investments and the poor to participate in economic growth...

Author: /time Magazine | Title: The One Country That Might Avoid Recession Is... | 3/5/2009 | See Source »

HEALTH AND HUMAN SERVICES $76.8 billion in discretionary spending, plus $630 billion (over 10 years) in a new reserve fund for health-care reform and expanded health-insurance coverage...

Author: /time Magazine | Title: The World | 3/5/2009 | See Source »

...their capital accounts and sold off their banks to Western Europe at the E.U.'s urging. Financial liberalization and free trade were mantras recited by the E.U. (and others) as the Eastern states readied to join. The policies work. But as Katinka Barysch of the Centre for European Reform in London wrote recently, they have also "left the region exceptionally vulnerable in the downturn." Populist Eastern politicians may now use the crisis, and the perceived lack of Western help, to roll back reforms...

Author: /time Magazine | Title: Solidarity's End | 3/5/2009 | See Source »

...Megan says. “And I have to say that I’m very optimistic about the direction of things.”One initiative that Faust says students will see next year is a joint venture between the OFA and the ART.With the calendar reform to be in place next academic year, the two organizations will provide students with the opportunity to sign up for a theater intensive workshop as part of the January Experience—roughly a month-long period between semesters.ART Managing Director Robert J. Orchard says that though specific guidelines for the program...

Author: By June Q. Wu, CRIMSON STAFF WRITER | Title: Taking Artistic Liquidities | 3/5/2009 | See Source »

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