Katy Barnato – CNBC , 03/29/2016
Brazil’s political system is set to spin further out of control Tuesday as the biggest party in the Senate quits the ruling coalition, a move that will hike the odds on President Dilma Rousseff’s impeachment.
The Brazilian Democratic Movement Party (PMDB) announced Tuesday, as expected, it would pull six ministers from Rousseff’s Cabinet, ordering them to either resign or face ethics proceedings, Reuters reported Tuesday. If Rousseff is impeached, it would put Vice President Michel Temer, leader of the PMDB, next in line for the presidency, Reuters said.
Analysts are divided as to how Brazil’s economy and political situation might fare in the wake.