May 21, 2017

New Temer scandal rattles markets in Brazil, Argentina

Stocks and currencies nosedive as investors scramble in response to corruption allegations involving Brazilian president

Brazilian markets plummeted yesterday as allegations that President Michel Temer condoned bribes to silence a key witness deflated investor optimism about the prospects for his ambitious pension and labour reform agenda. That pessimism spread to Argentina, which saw declines in stocks markets and a jump in the value of the US dollar against the peso. Read more.

Buenos Aires Herald

Related,
Brazil stocks plunge on emerging political scandal, post worst day since 2008 - CNBC
Temer rejects calls for stepping down: “I will not resign. I repeat, I will not resign” - Mercopress

Hundreds block Sao Paulo road after Temer leaks (video) - MSN
Seism in Brazil: Temer could soon be joining Rousseff at the removed ex presidents' club - Mercopress

Brazil's Spiraling Corruption Scandal Deepens with Temer at the Centre (video) - TRNN

BRICS Under Attack: The Empire Strikes Back In Brazil - MintPress
WikiLeaks: Brazil’s Acting President Michel Temer Is US Diplomatic Informant - MintPress

Chaos in BraziliĆ« – aandelenmarkt crasht - Biflatie

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