The Brazilian real recently hit a 12-year high against the dollar and has gained 35 per cent against both the euro and pound sterling since 2008… the result?
“The Brazilian real’s stellar run against the euro and pound sterling is helping to reverse one of the country’s highest profile exports – the sale of soccer players to Europe.
This month’s €40m ($56m) bid by SC Corinthians Paulista, the leading São Paulo club, for Argentine striker Carlos Tevez, who plays in the English Premier League for Manchester City, has highlighted the rising purchasing power of Brazilian football.”
More signs of a peak…. recession 2012 anyone?
Full article here.

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