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Cardoso faces austerity tests after re election win in Brazil
Cardoso won a first ballot victory amid interior results and must push through austere measures to curb Brazil’s crisis. Markets fell as investors anticipated spending cuts and tax hikes while a multinational bailout effort grows. Lula da Silva trailed with 34 percent as Cardoso leads with 51.2 percent.
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Sao Paulo
Brazil
Fernando Henrique Cardoso
Cardoso
Asia
Rio de Janeiro
United States
Clinton
Washington
IMF
Thailand
Indonesia
South Korea
Russia
Luiz Inacio Lula da Silva
Workers Party
Ciro Gomes
Popular Socialist Party
Senate
Latin America