Hysterical Santander Economist Responds to LaRouche; Says Eurozone Crisis Won't Touch Brazil!

February 13, 2010 (LPAC)—Speaking from within the bowels of Banco Santander's Brazilian branch, chief economist Alexandre Schwartsman told Exame magazine that the crisis of the Eurozone, and countries such as Greece and Spain, won't have the slightest effect on Brazil's wonderfully-growing economy. Schwartsman's interview was published in Exame's Feb. 9 edition.

Lyndon LaRouche laughed at Schwartsman's "insanity," and remarked that his own warnings of a meltdown crisis throughout the Eurozone, in the middle of which sits British-run Banco Santander, must have "scared the s—t" out of Mr. Schwartsman.

Schwartsman insisted that there have only been a few minor blips in Brazil reflecting the European crisis, but nothing significant. Brazil's economy is dynamic, he lied, based on consumption and investments in the internal market, and it cannot be derailed by any European events.

The Brazilian economist was insistent that Greece is the big problem—not Spain—and worried about a sovereign default, which he said would be a "worst-case scenario." The key question there, he added, is, who holds Greece's debt paper? He ventured that the majority must be pension or investment funds, but not banks. So if Greece does default, "no bank's health would be affected."

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