Brazil Corruption Scandal Nears Temer, Roiling Markets and Prompting Impeachment Talks

Stock index down more than 10%; an opposition party calls for president’s resignation or impeachment

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President Michel Temer


May 18, 2017 1:40 p.m. ET

BRASÍLIA—An unfolding corruption scandal moved closer to President Michel Temer and a leading ally, sending financial markets plunging, prompting calls for Mr. Temer’s impeachment and potentially stalling an economic overhaul in Latin America’s biggest country.

The Ibovespa stock index was down 8% midday Thursday after declining as much as 10% earlier in the day, and the Brazilian real weakened to 3.32 against the dollar from 3.10…



Brazil President Rejects Calls to Quit Amid New Corruption Claims

Calls for Mr. Temer to step down multiplied on Thursday across Brazil’s political establishment, following a report by Globo, the country’s most powerful media group, of a secret recording in which the president had endorsed bribes paid to silence Eduardo Cunha, an imprisoned politician who was an orchestrator of Ms. Rousseff’s ouster.


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One Response to “Brazil Corruption Scandal Nears Temer, Roiling Markets and Prompting Impeachment Talks”

  1. daveyone1 Says:

    Reblogged this on World Peace Forum.

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