As Brazil’s Rousseff reels from crisis, opportunity for reform emerges

Brazil's President Dilma Rousseff greets former President Luiz Inácio Lula da Silva, her political mentor and ally, during a campaign rally for the Workers’ Party (source: dpa)
Brazil's President Dilma Rousseff greets former President Luiz Inácio Lula da Silva, her political mentor and ally, during a campaign rally for the Workers’ Party (source: dpa)

Brazil is facing its worst crisis in 70 years. Its economy is mired deep in a recession that will last at least until 2017. The political scene is in disarray, with a president who was re-elected just a year ago now chastened by approval ratings in the single digits. No opposition leader or party is considered a viable replacement for the Workers’ Party, which has held power since 2003.

Fear pervades the business community – not only due to the country’s macroeconomic woes but also because of an anti-graft investigation by federal police that resembles Italy’s ‘clean hands’ investigation of the 1990s. The operation is dramatically reshaping the traditionally venal relationship betwee...

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