Brazil’s Rousseff Decries Conspiracy as Impeachment Advances

Brazilian President Dilma Rousseff said on Tuesday her vice president was orchestrating a conspiracy to topple her, as efforts to impeach the leftist leader gained momentum in Congress.

Aided by her mentor and predecessor, Luiz Inacio Lula da Silva, Rousseff scrambled to secure enough support from a dwindling array of allies to block impeachment in a lower house vote due on Sunday that analysts project she will lose.

A congressional committee voted on Monday by a larger-than-expected margin to recommend that Rousseff be impeached for breaking budget laws to support her re-election in 2014, a charge Rousseff says was trumped up to remove her from office.

Political risk consultancies estimate at 60 to 65 percent the odds of impeachment clearing the lower house, since the committee vote was expected to sway undecided lawmakers to join the opposition.

Reuters

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Craig Erlam

Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam