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Central Bank president says Brazil ready to face European crisis

06-11-2010 17:11 BJT

RIO DE JANEIRO, June 10 (Xinhua) -- Brazil's Central Bank President Henrique Meirelles said on Thursday that the country is ready to face the European crisis.

Meirelles qualified the turmoil in Europe as serious, but assured that Brazil is in a good position to handle it, due to its large foreign exchange reserves and its stable economy.

According to him, the Brazilian economy's performance in the past months is proof that the country can overcome a crisis.

"The crises have their cost, but to Brazil the results have some very favorable aspects," he said, stressing that, due to the turmoil in Europe and the U.S., Brazil's participation in the global decisions increased.

Meirelles added that Brazil managed to learn from past crises.

"We have sought consistent policies and improved the institutions," he said.

Additionally, the Central Bank president commented on the upcoming G20 meeting, which is to take place in Toronto, Canada. According to him, the meeting will discuss matters related to the international financial crisis, such as market regulations.

Meirelles believes that Brazil's goal in the G20 is to promote international cooperation and to give voice to the emerging countries, ensuring that their opinions are heard and their interests are represented.


Editor:Du Xiaodan |Source: Xinhua

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