Brazil is fast becoming the Greece of Latin America, seemingly willing to be wiped off the map of relevance like sad sack Venezuela and arch rival Argentina. It’s too bad, really. The American-loving Brazilians should take a cue from a lyric by American singer Taylor Swift: in a relationship there are only two decisions, you either stay, or you go.
The market is still trying to figure out whether Finance Minister Joaquim Levy is staying or going. First he was going. Then he was staying. Now he might be staying, or might be going, despite saying last week that he was staying. The banter in Brazil is a lot like Greece’s banter on whether or not it is going to pay its creditors.