This tag is associated with 9 posts

Brazil’s Ex-President Lula Charged In Secret Petrobras Case, Report Says

Brazil’s prosecutor general has charged the former president Luiz Inacio Lula da Silva with participating in a scheme to buy the silence of a former executive at state-run oil company Petrobras, newspaper Estado de S.Paulo has reported. Lula’s name was included in the case against Senator Delcidio do Amaral, who in December was charged with … Continue reading

Rousseff’s Impeachment Alone Won’t Fix Brazil’s Economic Woes

By Yesenia Lugo The biggest party in the governing coalition abandoned President Dilma Rousseff last week, increasing the likelihood that the leader of Latin America’s biggest country will be impeached and opening up the country to uncertainty. The $3 billion dollar scandal that’s engulfed Brazil has its origin in a cluster of construction companies and politicians colluding … Continue reading

Has The BRICS Bubble Burst?

The political crisis in Brazil over economic mismanagement and high-level corruption, likely to come to a head next week, has reinforced the fashionable view, popular among western governments and businesses, that the BRICS bubble has burst. Members of the exclusive BRICS club of leading developing countries – Brazil, Russia, India, China and South Africa – … Continue reading

Brazil’s Revolution Starting To Reveal Its True Colors

By Pepe Escobar As we approach High Noon in the savage Brazilian politico-economic western, here’s what is at stake following my previous piece on RT. For the past five days, all hell has broken loose. It started with judge Sergio Moro, the tropical Elliott Ness at the head of the two-year-old, 24-phase Car Wash corruption investigation, crudely … Continue reading

Emerging Markets: What Has Changed This Week?

By Marc Chandler, Marc to Market Blog China press is reporting that policymakers are drafting rules for a so-called Tobin tax on yuan transactions Former President Lula was named to the cabinet post of Chief of Staff by his protégé, President Rousseff The Brazilian central bank said it “sees room” to partially unwind the FX swaps program … Continue reading

‘Prime Minister’ Lula: The Brazilian Game-Changer

By Pepe Escobar Compared to the political/economic rollercoaster in Brazil, House of Cards is kindergarten play. Only three days after massive street demonstrations calling for the impeachment of President Dilma Rousseff, and less than two weeks after his legally dubious four-hour detention for questioning, former Brazilian President Lula is about to spectacularly re-enter the Brazilian government as … Continue reading

Release Of Tapped Phone Calls Between Lula And Rousseff Sparks Mass Protests In Brazil

In the latest of a series of explosive revelations that could bring down the Brazilian government, a secretly recorded phone call between former president Luiz Inácio ‘Lula’ da Silva and his successor, Dilma Rousseff, suggests his appointment to a ministerial position on Wednesday was motivated by a desire to avoid prosecution in Brazil’s worst-ever corruption … Continue reading

Think Brazil’s Scandals Have Nothing To Do With U.S. Banks? Guess Again.

By Nomi Prins This weekend, millions of Brazilians took to major city streets (again) to protest the hydra of corruption gushing from Petrobras, Brazil’s largest oil company and the government amidst deepening economic recession. Calls for the impeachment of sitting Workers’ Party (PT) president (and former Chair of Petrobras), Dilma Rousseff filled the air. (I … Continue reading

Brazil Looks Almost Ungovernable – But It’s More Robust Than It Seems

By Anthony Pereira On Friday March 4, about 200 federal policemen and 30 tax auditors raided the apartment of former president Luiz Inácio Lula da Silva (Lula), who was taken to Congonhas airport for a three-hour interrogation while his home and institute were searched. The raid was part of Operation Car Wash, a set of investigations … Continue reading

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