Brazilian President Luiz Inacio Lula da Silva said Tuesday the Brazilian economy is sound and solid enough to face the international financial crisis and the U.S. government needs to "do their homework."
"The crisis is one of the most serious problems we have ever seen," Lula said in Manaus in the northern state of Amazonas, where he and Venezuelan President Hugo Chavez signed several bilateral agreements.
Lula said he is concerned about the development of the crisis, but assured that the Brazilian economy is solid enough to cope with it.
"Ten or 15 years ago, if the U.S. sneezed, Venezuela and Brazil would have pneumonia because our countries were fragile," he said," but it has not been the case now."
"Our financial system is not involved in the subprimes. We did our homework and the U.S., who spent 30 years in telling us what to do, did not do theirs," he noted.
He said a worldwide recession would bring ill consequences for everyone. "The bad management of the U.S. financial system should be criticized."
"The U.S. people are not responsible for the crisis, and no one deserves a crisis. There are over 340,000 families in the U.S. who lost their homes," he said.
"I wish the U.S. government, Congress and people would find a way out, and I hope that the upcoming elections do not get in the way of a solution," he added.
Lula met his Venezuelan, Ecuadorian and Bolivian counterparts Tuesday to discuss South America's stance in dealing with the crisis and other issues of mutual concern.
Source: Xinhua
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