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

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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…

https://www.wsj.com/articles/brazils-temer-scandal-roils-markets-prompts-impeachment-talk-1495129224

Related:

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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.

Source:https://www.nytimes.com/2017/05/18/world/americas/brazil-president-michel-temer-corruption-claims.html?_r=0

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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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