Brazil president to Bush: 'Fix your own crisis'

Brazil president to Bush: 'Fix your own crisis'
AFP - Friday, March 28 02:10 am

RECIFE, Brazil (AFP) - Brazil President Luiz Inacio Lula da Silva said Thursday he told US President George W. Bush to fix his country's economic problems before they spill over and harm other economies.

"Son, here's the problem," Lula said he told Bush in a telephone call. "We've had 26 years with no growth. And now that we're growing, you want to complicate things? Fix your own crisis!"

In a speech to Mexican and Brazilian businessmen in Brazil's easternmost city, Lula said he placed the call to Bush to tell him what he felt about the current US economic crisis, but did not say when the call took place.

Lula said the US economic trouble stemming from subprime mortgage crisis that is keeping the global economy on tenterhooks "maybe is not as serious as we imagine, but it could be even worse."

"We're watchful so Brazil and other growing countries in Latin America don't fall victim to the US crisis," he said, adding: "We're keeping them under magnifying glass the whole day."

The Brazilian government has said its economy is sound enough to withstand any side effect of a US recession, pointing to strong public trust in government accounts, its substantial 200 billion dollar reserves and a steadily growing domestic demand.