Timid Temer By Simon Whistler and Thomaz Favaro October 2, 2016


UESLEI MARCELINO / REUTERS  Brazilian President Michel Temer, September 2016.

UESLEI MARCELINO / REUTERS Brazilian President Michel Temer, September 2016.

For Brazil’s political elite, the August 31 impeachment of President Dilma Rousseff for corruption was a barely disguised attempt to draw a line between them and the crises that have kept their country in a straitjacket for much of the past two years. With Rousseff’s successor, Michel Temer, now formally in place as president, the new administration can finally take the bold steps needed to revive the Brazilian economy. Corruption investigations will continue, but they will no longer be a soap opera distracting from the day-to-day business of governing the country. More important, according to this view, is that just as former President Fernando Collor de Mello’s impeachment 24 years ago may have set the stage for the reforms that led to Brazil’s impressive growth over the past two decades—Collor’s ouster was followed by a macroeconomic stabilization program, the Real Plan, that ended decades of hyperinflation—Rousseff’s impeachment could set in motion a new cycle in the country’s economic and political life.

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