Brazil’s ‘bullets, beef and bible’ caucus wants to imprison 16-year-olds

April 17, 2015

Bruce Douglas – The Guardian, 4/17/2015

Among Brazil’s weak and demoralised leftwing members of Congress, they are known as the “Bancada BBB”: Bullets, Beef and Bible Caucus.

These conservative hardliners – from Brazil’s security forces, agricultural sector and evangelical churches – triumphed in last October’s legislative elections, while President Dilma Rousseff, of the leftwing Workers’ Party (PT), only narrowly won re-election.

Over the past few months, the president’s authority has been undermined by a massive corruption scandal, major street protests and the open revolt of many of her former political allies.

Read more…


Brazil Scandal Sends Multinationals Running to Attorneys

April 17, 2015

Joel Schectman – The Wall Street Journal, 4/16

Multinationals with operations in Brazil are making frightened calls to their lawyers, as the country’s spreading corruption scandal reaches more companies.

The bribery investigation known as “Operation Carwash,” which has already sent Brazil’s state-run Petroleo Brasileiro SAPBR +1.15% into a tailspin, is spreading across the country’s largest construction companies and its third largest bank. Brazilian prosecutors say shipbuilding arm of South Korean conglomerate Samsung paid bribes to a former executive at Petrobras. Brazilian prosecutors have also accused Swedish builder Skanska ABSKA-B.SK -2.11% of taking part in the corruption at Petrobras. Skanska didn’t respond to requests for comment. Samsung couldn’t be immediately reached for comment.

Brazilian investigators have said they are investigating large international firms that they believe have paid bribes, Reuters reported.

Read more…


Investors tiptoe back into Brazil markets as inflation peaks

April 17, 2015

Walter Brandimarte – Reuters, 4/17/2015

Some investors are carefully betting that the recent selloff in Brazilian financial markets was overdone, pointing to signs that inflation is slowing and the government is getting its finances in order.

Many expect inflation will come down from its current 11-year high of 8.13 percent, thanks to the central bank’s interest rate hike cycle of 1.75 percentage points since October, as well as the economic slump’s effect on demand.

Meanwhile, state-run oil company Petrobras is expected to this month post financial statements that have been delayed by a huge corruption scandal, greatly reducing the risk of a major debt crisis that could have cost Brazil its investment grade credit rating.

Read more…


Protests in Brazil: Tropical tea party

April 17, 2015

The Economist (print edition), 4/18/2015

BY NEARLY any standard, the protests to denounce the president, Dilma Rousseff, and to rail against corruption in Brazil were huge. Some 660,000 people turned out on April 12th, in 152 cities. Yet that is compared with roughly 2m Brazilians who rallied a month ago. The drop in numbers is sobering for a movement that dreams of toppling the president with massive shows of street support. It means the organisers will have to change tactics and refine their muddled message.

The anger has not ebbed, and the movement is not going away. According to Datafolha, a pollster, three-quarters of Brazilians support the protests. Two-thirds want Ms Rousseff to be impeached over a multi-billion-dollar bribery scandal surrounding Petrobras, the state oil company. Members of her Workers’ Party (PT) and others in the governing coalition are under investigation, although the president herself has not been implicated. Her popularity has sunk from 40% at the start of her second term in January to 13%. Even in the PT’s heartland in the poor north-east, a majority thinks she is doing a poor job.

The movement against her resembles insurgencies in Europe and the United States, but with big differences. Unlike Syriza in Greece or Podemos in Spain, the organisers of Brazil’s protests are not left-wing and do not constitute a political party. Some compare the protesters to America’s Tea Party, which agitates for small government within the Republican Party. That is closer to the mark. The protesters lean towards Brazil’s opposition parties and hope to influence them. Renan Hass of the Free Brazil Movement (MBL), a main organiser of the protests, wants the Party of Brazilian Social Democracy to be “more macho”. But the movement is too young, and too fragmented, to have infiltrated Congress, unlike the American Tea Party. Dozens of grassroots organisations called protesters onto the streets.

Read more…


The Kickback That Killed Brazil

April 16, 2015

Bruce Douglas – Foreign Policy, 4/15/2015

Underneath the tiled awning of her whitewashed veranda, Cassia Gonçalves Moreira, 46, scoops clumps of damp pastry from a large plastic tub, rolls them between her hands, and methodically lines the bottom of a dozen or so small tins arranged on the table in front of her.

Next comes the filling: cheese, chicken, or hearts of palm. Then, she molds another dollop of pastry for the lid, before placing the completed empadas on a metal tray. A faint smell of rising dough drifts through the open door. Once she has cooked enough, she will put on her Brazil soccer shirt and start her daily trek around Itaboraí, a town a few miles east of Rio de Janeiro, across the Guanabara Bay, selling each empada for 3 real ($1).

“They don’t exactly pay for everything,” she said. “In fact, they don’t even cover the cost of the rent here. Still, they keep us from starving.”

Read more…


Brazil to Present Ambitious Climate Plan With More Renewables

April 16, 2015

Vanessa Dezem – Bloomberg Business, 4/16/2015

Brazil will increase the use of renewable energy, target zero net deforestation and push for low-carbon agriculture as part of its climate proposal, Environment Minister Izabella Teixeira said in an interview.

In its proposal to the United Nations climate conference in Paris this year, Latin America’s largest nation will propose ambitious new targets to reduce destruction of the Amazon rainforest, boost reforestation and increase solar, hydro and wind energy. To do so, it will require more foreign capital and technology, Teixeira said in her office in Brasilia.

Over the past decade Brazil has been one of the world’s protagonists in combating climate change, slashing its greenhouse emissions by 41 percent between 2005 and 2012, according to official data. Making further cuts may be more difficult. Emissions from energy generation during the same period rose 36 percent, while the reduction of Amazon deforestation, a major source of carbon emissions, is slowing.

Read more…


An escalating corruption scandal rocks Brazil

April 14, 2015

Mary Anastasia O’Grady – The Wall Street Journal, 04/15/2015

Former Brazilian presidential candidate Aécio Neves speaks for a lot of his compatriots when he says President Dilma Rousseff’s Workers’ Party (PT) used stolen funds to defeat him in Brazil’s runoff presidential election in October.

In an interview in Lima last month I asked Mr. Neves—who is president of the Social Democracy Party of Brazil (PSDB)—whether he lost the election because the socialism of the hard-left Ms. Rousseff had greater appeal to Brazilians than his more market-oriented platform.

He denied the possibility. He lost, he told me, because of “organized crime.”

Read more…


Follow

Get every new post delivered to your Inbox.

Join 6,556 other followers

%d bloggers like this: