Can Brazil’s Next President Rescue Petrobras?

13 May 2016   Brazil

Petrobras Office Brazil’s Senate voted to approve impeachment proceedings against President Dilma Rousseff, forcing her to step down in order to stand trial. Vice President Michel Temer will now succeed her as President through the duration of the trial, which could take several months, and will hold onto the post through the end of her term should she be convicted. The move comes as Brazil is facing a host of problems, including the worst recession in perhaps a century, the ongoing corruption probe of state-owned oil company Petrobras, inflation, the Zika virus, and public outrage. It should be noted that the case against President Rousseff is relatively weak , and many of the politicians leading the impeachment campaign are themselves accused or charged with corruption. Her successor, Vice President Michel Temer, does not have a spotless record either and most Brazilians want him impeached as well. Nevertheless, the political […]

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