Following a very (or not….) controversial vote from the Congress last week, we need to understand why the Petrobras collapse and the pre-salt is so important for Brazil. For those who read Portuguese, here is a highly recommended reading from today’s Estadão: http://economia.estadao.com.br/noticias/geral,a-insustentavel-leveza-da-petrobras,10000018942
PS: Sorry for skipping the Moody’s downgrade last week. I was out for a few days.