HNAVES Advogados

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Helen Naves clears up confusion over “confiscation of savings” on G1

Our partner Helen Naves was consulted by G1’s Fato ou Fake service about a video circulating on the networks suggesting that President Lula has advocated the confiscation of Brazilians’ savings.

In the speech, Lula says the phrase “put regional savings at the service of economic and social development by mobilizing development banks (…)”. The video highlights the caption: “Democratic confiscation”.

The term “regional savings” refers to the common financial reserve between the countries of South America, bringing together their development banks, without any relation to the money that the ordinary citizen has in the bank.

Helen clarifies in the report that article 62 of the Federal Constitution establishes that the President of the Republic cannot, through provisional measures, adopt any measure that “aims at the detention or sequestration of property, popular savings or any other financial asset”.

To read the full text, visit https://g1.globo.com/fato-ou-fake/noticia/2023/07/19/e-fake-que-ao-mencionar-poupanca-regional-lula-defenda-confiscar-poupanca.ghtml