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jueves, 12 de mayo de 2016

Many analysts argue a tanking economy played a major role in Rousseff's downfall..-Brazil's interim President Michel Temer vows to restore economic growth


Brazil's new acting president has formed a pro-business cabinet and vowed to work towards lifting the economy. Many analysts argue a tanking economy played a major role in Rousseff's downfall.
Brasilien Vize-Präsident Michel Temer
In his first words to the nation, Brazil's acting President Michel Temer said Thursday he would work to revive Latin America's largest economy and seek dialogue in a country divided along multiple fault lines.
"Dialogue is the first step to facing the challenges we must overcome to move forward and guarantee a return to growth," said Temer, only hours after taking over from Dilma Rousseff, who was suspending as president pending an impeachment trial.
"It is urgent to restore peace and unite Brazil," said Temer.
Immediate opposition
The opposition immediately slammed his new pro-business cabinet. The 21- member cabinet is composed of all-white men, a possible indication that the traditional elite would seek to undermine 13 years of left-wing policies.
Brazil has been on an up and down rollercoaster ride over the past months, leading to a senate vote on Thursday to try Rousseff on allegations she hid a budget shortfall ahead of her 2014 reelection bid.
Rousseff has described the opposition move as a "coup" and vowed to fight on through legal challenges. She was supported in street protests from left-wing Workers' Party supporters. She argues the budget maneuvers were a common practice used by previous governments and not illegal.

The senate will now spend up to six months deciding whether to remove Rousseff permanently from the presidency. Two-thirds of the senate is needed to remove her from office."I may have committed errors but I never committed crimes," Rousseff said at a news conference earlier on Thursday. "It's the most brutal of things that can happen to a human being - to be condemned for a crime you didn't commit."
Temer under investigation for corruption
Unlike many of the senators and Temer himself, Rousseff is not under investigation for corruption, even though much of the graft at state owned oil giant Petrobras happened while the Workers' Party was in power.
Temer vowed to fight corruption and maintain the wide reaching investigation into graft, though critics worry he will use his power to undermine investigations into the country's political and business elite.
Temer sought to smooth concerns he would unravel social programs implemented by the Workers' Party that brought an estimated 35 million people out of poverty over the past decade.
Economic recovery?
Supporters of the impeachment argue Temer could be the best bet for restoring growth to Brazil's economy.
After years of robust growth the economy entered a recession, contracting nearly four percent last year with soaring inflation and unemployment. Growth estimates for this year are similar.
Many analysts argue the economy played a major role in Rousseff's downfall. Her support has tanked alongside the economy.
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