from Zero Hedge
On Sunday, millions of Brazilians took to the streets to call for the ouster of President Dilma Rousseff, who is thought to have cooked the fiscal books in 2014.
She’s not yet implicated (directly anyway) in the long-running Carwash probe, but some think that may change soon as the investigation seems to get closer and closer to her officer with each passing week.
But it’s not just corruption that Brazilians are fed up with.
The economy is in shambles and a PT party proposal to use more than 30% of the country’s FX reserves to fund infrastructure projects risks sparking capital flight and jeopardizes debt service capacity, Barclays wrote, in a note out today.