Brasília, 6/17/2003 (Agência Brasil - ABr) - The president of the CUT labor union (Central Única dos Trabalhadores), Luiz Marinho, met with minister of Finance, Antonio Palocci, yesterday and proposed the creation of a mechanism which would enable workers to get cheaper credit. The idea would join banks, companies and workers in such a way that companies would obtain loans from banks for their employees and discount payments from their paychecks.

Marinho says he believes the idea could reduce interest charges from the present 10% a month to 3%. "We have to apply pressure so the bank spread is reduced," he declared, as he announced that some banks, such as the BMG, are willing to discuss the proposal. (AB)