The keys: Lula's surprising victory leaves him with a difficult challenge... and may give wings to others
The Government of the indefatigable politician will have to deal with a centre-right Parliament
Luiz Inácio Lula da Silva has won a fourth term as President of Brazil, defeating Jair Bolsonaro. The markets reacted with surprise and concern, with stocks in Santander and Telefónica plummeting. Lula's victory breaks a trend towards right-wing and far-right governments in Iberoamerica and globally. Despite not being seen as fiscally irresponsible, Lula's new term will be complicated by high public debt and a centre-right dominated parliament.
Written by urgent.news from El Pais Economia's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
