Brazil's crisis hits new lows as its outcome gets harder to predict
Director Paulo Sotero writes for the Financial Times on the growing corruption scandal in Brazil.
The crisis that has paralysed Brazil’s politics this year and thrown its economy into what is set to be its longest recession since the 1930s has reached new lows. Revelations by Brazilian and Swiss authorities about Swiss bank accounts held by Eduardo Cunha, a Rio de Janeiro congressman and president of the Chamber of Deputies, have complicated opposition efforts to impeach the discredited president, Dilma Rousseff.
Last week, Brazil’s Supreme Court suspended its deliberation of procedures instigated by Cunha as the gatekeeper of Congress to begin Rousseff’s impeachment on the grounds of illegally tampering with the 2014 federal budget and in connection with a massive corruption scandal under federal investigation, involving national oil company Petrobras, construction companies and politicians of all major parties.
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