Brazil's Loss Is Levy's Gain as Cut to Junk Favors Austerity
- S&P downgrade may force policy makers to act faster on budget
- Rousseff will have to pay political price of spending cuts
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Brazil’s return to junk may be exactly what Finance Minister Joaquim Levy needed.
Standard and Poor’s dressing down of Latin America’s largest economy on Wednesday could finally convince lethargic policy makers to revive the economy and close the biggest budget deficit in at least two decades.