Dilma Cast Out

16.05.2016 • Emerging Markets

From the Daily Pro (BRAZIL) –

Thursday finally brings certainty for the markets. By 55 votes to 22, with two absences and one abstention (Renan), Dilma is removed from the presidency for 180 days.

The former president withdraws from Planalto Palace to the Alvorada Palace, where she promises to build a “HQ of resistance.” The large margin of votes in favor of impeachment, both weakens significantly her movement and gives also a good dimension for what Temer’s allied base should be.

With the political developments in the foreground and background, the economic agenda of the day, without great indicators, is in the fourth place – also behind the season of corporate results, which is reserved for Petrobras balance in the first quarter of 2016.

I write to you directly from the Château de Coutomer in France, where I am attending a seminar. During this week, I perform a series of meetings with foreign investors in order to capture the new image of Brazil.

The conclusion here? Temer must come in prepared to hit the ground running…

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