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Itamar Augusto Cautiero Franco, usually known as Itamar Franco (pron
Pronunciation

"Pronunciation" refers to the way a word or a language is usually spoken, or the manner in which someone utters a word. If someone said to have "correct pronunciation," then it refers to both within a particular dialect....
. ), (born June 28, 1930) is a Brazil
Brazil

Brazil , officially the Federative Republic of Brazil , is a country in South America. It is the List of countries and outlying territories by total area country by geographical area, occupying nearly half of South America, the List of countries by population country, and the fourth most populous democracy in the world....
ian politician who was President of Brazil
List of Presidents of Brazil

See also: List of Brazilian monarchsThis is a list of President of Brazil of Brazil....
 from December 29, 1992 to January 1, 1995.

Life and career
Itamar Franco was born at sea, aboard a ship traveling between Salvador and Rio de Janeiro
Rio de Janeiro

Rio de Janeiro , is the second largest city of Brazil and South America, behind S?o Paulo, and the third largest metropolitan area in South America, behind S?o Paulo and Buenos Aires....
. He was named Itamar because he was born on board of ship Ita, at sea (in Portuguese
Portuguese language

Portuguese is a Romance language that originated in what is now Galicia and Portugal. It is derived from the Latin language spoken by the Romanization Pre-Roman peoples of the Iberian Peninsula around 2000 years ago....
 Mar). His family was from Juiz de Fora
Juiz de Fora

Juiz de Fora is a city in the southeastern Brazilian state of Minas Gerais, located close to the state border with Rio de Janeiro . According to 2006 estimates the current population is about 509,125 inhabitants....
, Minas Gerais
Minas Gerais

Minas Gerais was so named for its great riches in the mining industry. It is one of the 26 states of Brazil of Brazil, the second most populous and fourth largest by area in the federation....
, where he grew up and became a civil engineer in 1955, graduating from the School of Engineering of Juiz de Fora
School of Engineering of Juiz de Fora

School of Engineering of Juiz de Fora is a school in Brazil.Currently "Faculdade de Engenharia de Juiz de Fora" . It was set up in 1914 in the city of Juiz de Fora, Minas Gerais state, Brazil, and taught a five-year course of Civil and Eletrotechnic Engineering....
.






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Itamar Augusto Cautiero Franco, usually known as Itamar Franco (pron
Pronunciation

"Pronunciation" refers to the way a word or a language is usually spoken, or the manner in which someone utters a word. If someone said to have "correct pronunciation," then it refers to both within a particular dialect....
. ), (born June 28, 1930) is a Brazil
Brazil

Brazil , officially the Federative Republic of Brazil , is a country in South America. It is the List of countries and outlying territories by total area country by geographical area, occupying nearly half of South America, the List of countries by population country, and the fourth most populous democracy in the world....
ian politician who was President of Brazil
List of Presidents of Brazil

See also: List of Brazilian monarchsThis is a list of President of Brazil of Brazil....
 from December 29, 1992 to January 1, 1995.

Life and career


Itamar Franco was born at sea, aboard a ship traveling between Salvador and Rio de Janeiro
Rio de Janeiro

Rio de Janeiro , is the second largest city of Brazil and South America, behind S?o Paulo, and the third largest metropolitan area in South America, behind S?o Paulo and Buenos Aires....
. He was named Itamar because he was born on board of ship Ita, at sea (in Portuguese
Portuguese language

Portuguese is a Romance language that originated in what is now Galicia and Portugal. It is derived from the Latin language spoken by the Romanization Pre-Roman peoples of the Iberian Peninsula around 2000 years ago....
 Mar). His family was from Juiz de Fora
Juiz de Fora

Juiz de Fora is a city in the southeastern Brazilian state of Minas Gerais, located close to the state border with Rio de Janeiro . According to 2006 estimates the current population is about 509,125 inhabitants....
, Minas Gerais
Minas Gerais

Minas Gerais was so named for its great riches in the mining industry. It is one of the 26 states of Brazil of Brazil, the second most populous and fourth largest by area in the federation....
, where he grew up and became a civil engineer in 1955, graduating from the School of Engineering of Juiz de Fora
School of Engineering of Juiz de Fora

School of Engineering of Juiz de Fora is a school in Brazil.Currently "Faculdade de Engenharia de Juiz de Fora" . It was set up in 1914 in the city of Juiz de Fora, Minas Gerais state, Brazil, and taught a five-year course of Civil and Eletrotechnic Engineering....
. Franco was mayor of Juiz de Fora from 1967 to 1971 and again from 1973 to 1974. He resigned as mayor in 1974 and ran successfully for the Federal Senate as a representative of Minas Gerais. He soon became a senior figure in the MDB (Movimento Democrático Brasileiro - Brazilian Democratic Movement), the official opposition to the military regime that ruled Brazil from 1964 to 1985. Re-elected as a senator in 1982, he was defeated in an attempt to be elected governor of Minas Gerais in 1986 as a candidate of the Liberal Party (PL).

Vice Presidency


In 1989, Franco left PL and joined the small PRN (National Reconstruction Party) to be selected the running-mate of the presidential candidate Fernando Collor de Mello
Fernando Collor de Mello

Fernando Affonso Collor de Mello, Pronunciation. , was president of Brazil from 1990 to 1992, when he resigned to avoid being impeached. He confiscated money from bank accounts from the people and froze their savings accounts....
. A mains reasons behing Franco selection were that he represented one of the largest states (in contrast to Collor, who was from small state of Alagoas
Alagoas

Alagoas is a small States of Brazil in northeastern Brazil lying between the states of Pernambuco and Sergipe; touching the state of Bahia along a part of its southwestern border....
), and publicy he gained during his call for impeachment against President Jose Sarney
José Sarney

Jos? Ribamar Ferreira de Ara?jo Costa Sarney, , is a Brazilian writer and politician. He served as president of Brazil from March 15, 1985 to March 15, 1990....
 for an alleged corruption.

Collor and Franco won a very narrow election against current President Luiz Inácio Lula da Silva
Luiz Inácio Lula da Silva

Luiz In?cio Lula da Silva , known simply as Lula, is the thirty-fifth and current President of Brazil of Brazil and a founding member of the Workers' Party ....
.

Once in office, Franco broke with Collor, threating a resignation severeal times, as he disagreed with some of President policies, esspecially regarding privatization
Privatization

Privatization is the incidence or process of transferring ownership of business from the public sector to the private sector . In a broader sense, privatization refers to transfer of any government function to the private sector including governmental functions like revenue collection and law enforcement....
, voicing his opposition openly.

In 1992, Collor was charged with corruption and was impeached
Impeachment

Impeachment is the first of two stages in a specific process for a legislative body to consider whether or not to forcibly remove a government official from office....
 by the Congress. Franco was acting president from October 1992 until Collor's impeachment in December of that year, at which point he formally took office as president.

Presidency


Franco took power as Brazil was in the midst of a severe economic crisis, with inflation
Inflation

In economics, inflation is a rise in the general price level of goods and services in an economy over a period of time. The term "inflation" once referred to increases in the money supply ; however, economic debates about the relationship between money supply and price levels have led to its primary use today in describing price inflatio...
 reaching 1,100% in 1992 and rocketing to almost 6,000% in 1993. Franco developed a reputation as a mercurial leader, but he selected as his Finance Minister Fernando Henrique Cardoso
Fernando Henrique Cardoso

"Fernando Henrique" redirects here. For the Brazilian goalkeeper, see Fernando Henrique dos Anjos.Fernando Henrique Cardoso, Privy Councillor - also known by his initials FHC - was the 34th President of the Federative Republic of Brazil for two terms from January 1, 1995 to January 1, 2003....
, who launched the "Plano Real
Plano Real

The Plano Real was a set of measures taken to stabilize the Economy of Brazil in early 1994, under the direction of Fernando Henrique Cardoso as the Minister of Finance, during the presidency of Itamar Franco....
" that stabilized the economy and ended inflation.

During Franco Presidency, in April 1993, Brazil held a long-announced referendum to determine political system (reaining a Republic or restoration of the Monarchy) and the form of government (presidential of parliamentary system). Republican and presidential system prevailed by a large majorities respectively.

After the Presidency

Cardoso became the official candidate to succeed Franco and was elected President in late 1994. Franco, however, soon became a severe critic of Cardoso's government and disagreed with the privatization program. Thereafter, he served as the Brazilian Ambassador to Portugal in Lisbon and then as Brazilian Ambassador to the Organization of American States in Washington, DC until 1998. He was elected governor of Minas Gerais in 1998 and as soon as he took office, he enacted a moratorium on state debt payments, worsening the national economic crisis. Itamar Franco served until 2003 and since then has been the ambassador of Brazil in Italy
Italy

Italy , officially the Italian Republic , is a country located on the Italian Peninsula in Southern Europe and on the two largest islands in the Mediterranean Sea, Sicily and Sardinia....
, until leaving the position in 2005. During the 2001 presidential election, Franco endorsed Luiz Inácio Lula da Silva
Luiz Inácio Lula da Silva

Luiz In?cio Lula da Silva , known simply as Lula, is the thirty-fifth and current President of Brazil of Brazil and a founding member of the Workers' Party ....
, who got elected.

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