IBOV 177,866 ▲ 2.97% IPSA 11,057 ▲ 0.28% IPC MEX 66,496 ▲ 0.59% MERVAL 3,280,224 ▲ 2.43% COLCAP 2,307.67 ▲ 0.65% BVL PERÚ 56,194.27 ▲ 1.29% USD/BRL5.11▼ 0.17% USD/MXN17.46▼ 0.49% USD/CLP923.90▼ 0.41% USD/COP3,240▼ 3.09% USD/PEN3.39▼ 0.31% USD/ARS1,487▼ 0.03% USD/UYU40.22▲ 1.20% USD/PYG6,055▲ 1.53% USD/BOB10.14▲ 4.01% USD/DOP58.48▼ 0.12% USD/CRC448.82▲ 1.40% USD/GTQ7.63▲ 2.28% USD/HNL26.72▲ 1.50% USD/NIO36.62▲ 0.23% USD/VES707.92▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD158.07▲ 0.80% USD/TTD6.75▲ 1.32% EUR/BRL5.83▼ 1.07% BRENT 76.00 ▼ 0.39% WTI 71.51 ▼ 0.79% IRON ORE 161.91 — — COPPER 6.29 ▲ 1.13% GOLD 4,129 ▼ 0.04% SILVER 60.30 ▼ 0.13% SOY 1,190 ▲ 0.83% CORN 460.25 ▲ 7.60% WHEAT 639.25 ▲ 4.58% COFFEE 337.75 ▼ 5.38% SUGAR 14.86 ▼ 1.72% ORANGE JUICE 143.25 ▼ 4.44% COTTON 80.87 ▲ 6.18% COCOA 5,973 ▼ 5.33% BEEF 235.00 ▼ 0.11% CATTLE 354.38 ▼ 0.50% LITHIUM 72.32 ▼ 0.69% PETR4 39.65 ▲ 1.12% VALE3 74.18 ▲ 1.41% ITUB4 44.30 ▲ 4.02% BBDC4 18.86 ▲ 4.78% ABEV3 15.82 ▲ 0.64% BBAS3 20.58 ▲ 2.90% B3SA3 15.42 ▲ 4.26% WEGE3 46.51 ▲ 1.68% PRIO3 55.45 ▼ 0.29% SUZB3 41.55 ▲ 1.27% RENT3 41.10 ▲ 4.31% AZZA3 19.10 ▲ 3.47% CSAN3 4.07 ▲ 5.44% RAIZ4 0.35 ▼ 5.41% PCAR3 2.73 ▼ 1.09% GMAT3 3.97 ▲ 1.02% PSSA3 54.97 ▲ 3.04% CVCB3 1.25 — 0.00% POSI3 3.97 ▲ 3.12% SLCE3 14.02 ▲ 1.67% NATU3 8.68 ▲ 2.60% BRKM5 6.63 ▲ 4.25% RANI3 8.01 ▲ 1.91% CSNA3 5.18 ▲ 7.92% CMIN3 5.23 ▲ 8.28% USIM5 8.45 ▲ 1.20% GGBR4 23.01 ▲ 2.36% ENEV3 27.55 ▲ 5.15% CPFE3 47.87 ▲ 3.41% CMIG4 11.38 ▲ 2.71% EQTL3 40.91 ▲ 3.54% LREN3 14.62 ▲ 3.32% VIVT3 35.75 ▲ 3.62% RAIL3 14.36 ▲ 4.44% KLABIN 17.54 ▲ 0.80% RAIA DROGASIL 18.77 ▲ 3.53% RDOR3 36.02 ▲ 2.48% HAPV3 10.60 ▲ 5.26% FLRY3 16.42 ▲ 4.25% SMTO3 16.37 ▲ 1.99% UGPA3 30.71 ▲ 2.03% VBBR3 33.00 ▲ 2.80% BBSE3 40.35 ▲ 2.72% BPAC11 58.73 ▲ 5.48% CURY3 34.21 ▲ 4.62% AERI3 2.09 ▲ 1.46% VIVARA 23.53 ▲ 4.21% COMPASS 25.50 ▲ 3.32% VAMOS 3.06 ▲ 3.38% SANB11 27.62 ▲ 5.22% ASAI3 8.87 ▲ 4.85% SBSP3 31.11 ▲ 3.70% WALMEX 49.31 ▲ 0.59% GMEXICO 198.62 ▲ 1.68% FEMSA 223.20 ▲ 0.37% CEMEX 21.82 ▲ 0.51% GFNORTE 186.51 ▲ 0.63% BIMBO 56.10 — 0.00% TELEVISA 9.73 ▲ 2.42% AMX 22.70 ▲ 0.27% GAP 412.01 ▼ 0.41% ASUR 285.12 ▲ 0.53% OMA 235.73 ▼ 0.95% KOF 181.73 ▲ 0.50% GRUMA 282.99 ▲ 0.14% KIMBER 38.07 ▼ 1.09% SQM-B 67,750 ▼ 1.95% COPEC 6,139 ▲ 1.98% BSANTANDER 79.00 ▲ 1.94% FALABELLA 5,905 ▲ 0.92% ENELAM 85.40 ▲ 1.47% CENCOSUD 2,045 ▼ 0.55% CMPC 1,109 ▲ 1.32% BANCO CHILE 188.88 ▲ 1.01% LATAM AIR 26.26 ▼ 0.53% YPF 74,400 ▼ 1.81% GGAL 8,350 ▲ 5.96% PAMPA 5,185 ▼ 0.38% TXAR 671.00 ▲ 0.98% ALUAR 978.00 ▲ 0.98% TGS 9,610 ▲ 3.22% CEPU 2,405 ▲ 3.89% MIRGOR 17,375 ▲ 1.02% COME 45.90 ▲ 1.06% LOMA NEGRA 3,583 ▲ 2.43% BYMA 314.00 ▲ 1.37% TELECOM ARG 4,245 ▲ 3.03% ECOPETROL 15.59 ▲ 1.27% BANCOLOMBIA 82.95 ▲ 2.50% GRUPO AVAL 5.08 ▲ 1.20% CREDICORP 400.81 ▲ 2.27% SOUTHERN COPPER 175.83 ▲ 0.80% BUENAVENTURA 30.00 ▲ 1.52% MERCADOLIBRE 1,852 ▲ 2.46% NUBANK 13.76 ▲ 0.66% XP 16.92 ▲ 3.11% PAGSEGURO 9.25 ▲ 2.78% STONE 11.21 ▲ 2.28% GLOBANT 29.96 ▼ 4.25% TECNOGLASS 43.90 ▲ 1.76% GAP AIRPORT 235.64 ▲ 0.50% ASUR 285.12 ▲ 0.53% OMA AIRPORT 108.09 ▼ 0.22% AMX ADR 26.04 ▲ 0.77% FEMSA ADR 127.70 ▲ 0.55% CEMEX ADR 12.48 ▲ 0.89% PETROBRAS ADR 17.32 ▲ 1.70% VALE ADR 14.46 ▲ 1.69% ITAU ADR 8.62 ▲ 4.11% SANTANDER BR 5.39 ▲ 4.86% AMBEV ADR 3.07 ▲ 0.99% CSN 1.01 ▲ 5.79% GERDAU 4.50 ▲ 2.04% LATAM ADR 56.45 ▼ 1.03% BTC 64,138 ▲ 0.02% ETH 1,797 ▲ 0.08% SOL 77.73 ▼ 0.43% XRP 1.11 ▲ 0.13% BNB 575.10 ▲ 0.01% ADA 0.17 ▼ 0.13% DOGE 0.07 ▲ 0.33% AVAX 6.72 ▼ 0.26% LINK 7.99 ▲ 0.38% DOT 0.88 ▲ 0.41% LTC 44.77 ▲ 0.04% BCH 244.96 ▼ 0.12% TRX 0.33 ▼ 0.15% XLM 0.19 ▼ 0.25% HBAR 0.07 ▼ 0.38% NEAR 1.90 ▲ 0.70% ATOM 1.60 ▲ 0.67% AAVE 94.79 ▼ 1.00% SELIC 14.25% EMBRAER 84.60 ▲ 0.88% EMBRAER ADR 66.01 ▲ 0.72% JBS 11.91 ▲ 1.53% JBS BDR 60.78 ▲ 1.22% MBRF3 15.55 ▲ 0.91% MBRFY 2.97 ▼ 1.00% INTER 5.82 ▲ 1.93% EGX 52,312 ▲ 0.54% USD/ZAR16.35— 0.00% USD/NGN1,376▼ 0.12% NIKKEI 68,558 ▲ 1.20% CSI300 4,781 ▼ 1.96% HSI 24,175 ▲ 0.60% NIFTY 24,207 ▲ 1.02% KOSPI 7,476 ▲ 2.52% JCI 5,924 ▲ 0.20% USD/JPY161.67▼ 0.44% 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SILVER 60.30 ▼ 0.13% SOY 1,190 ▲ 0.83% CORN 460.25 ▲ 7.60% WHEAT 639.25 ▲ 4.58% COFFEE 337.75 ▼ 5.38% SUGAR 14.86 ▼ 1.72% ORANGE JUICE 143.25 ▼ 4.44% COTTON 80.87 ▲ 6.18% COCOA 5,973 ▼ 5.33% BEEF 235.00 ▼ 0.11% CATTLE 354.38 ▼ 0.50% LITHIUM 72.32 ▼ 0.69% PETR4 39.65 ▲ 1.12% VALE3 74.18 ▲ 1.41% ITUB4 44.30 ▲ 4.02% BBDC4 18.86 ▲ 4.78% ABEV3 15.82 ▲ 0.64% BBAS3 20.58 ▲ 2.90% B3SA3 15.42 ▲ 4.26% WEGE3 46.51 ▲ 1.68% PRIO3 55.45 ▼ 0.29% SUZB3 41.55 ▲ 1.27% RENT3 41.10 ▲ 4.31% AZZA3 19.10 ▲ 3.47% CSAN3 4.07 ▲ 5.44% RAIZ4 0.35 ▼ 5.41% PCAR3 2.73 ▼ 1.09% GMAT3 3.97 ▲ 1.02% PSSA3 54.97 ▲ 3.04% CVCB3 1.25 — 0.00% POSI3 3.97 ▲ 3.12% SLCE3 14.02 ▲ 1.67% NATU3 8.68 ▲ 2.60% BRKM5 6.63 ▲ 4.25% RANI3 8.01 ▲ 1.91% CSNA3 5.18 ▲ 7.92% CMIN3 5.23 ▲ 8.28% USIM5 8.45 ▲ 1.20% GGBR4 23.01 ▲ 2.36% ENEV3 27.55 ▲ 5.15% CPFE3 47.87 ▲ 3.41% CMIG4 11.38 ▲ 2.71% EQTL3 40.91 ▲ 3.54% LREN3 14.62 ▲ 3.32% VIVT3 35.75 ▲ 3.62% RAIL3 14.36 ▲ 4.44% KLABIN 17.54 ▲ 0.80% RAIA DROGASIL 18.77 ▲ 3.53% RDOR3 36.02 ▲ 2.48% HAPV3 10.60 ▲ 5.26% FLRY3 16.42 ▲ 4.25% SMTO3 16.37 ▲ 1.99% UGPA3 30.71 ▲ 2.03% VBBR3 33.00 ▲ 2.80% BBSE3 40.35 ▲ 2.72% BPAC11 58.73 ▲ 5.48% CURY3 34.21 ▲ 4.62% AERI3 2.09 ▲ 1.46% VIVARA 23.53 ▲ 4.21% COMPASS 25.50 ▲ 3.32% VAMOS 3.06 ▲ 3.38% SANB11 27.62 ▲ 5.22% ASAI3 8.87 ▲ 4.85% SBSP3 31.11 ▲ 3.70% WALMEX 49.31 ▲ 0.59% GMEXICO 198.62 ▲ 1.68% FEMSA 223.20 ▲ 0.37% CEMEX 21.82 ▲ 0.51% GFNORTE 186.51 ▲ 0.63% BIMBO 56.10 — 0.00% TELEVISA 9.73 ▲ 2.42% AMX 22.70 ▲ 0.27% GAP 412.01 ▼ 0.41% ASUR 285.12 ▲ 0.53% OMA 235.73 ▼ 0.95% KOF 181.73 ▲ 0.50% GRUMA 282.99 ▲ 0.14% KIMBER 38.07 ▼ 1.09% SQM-B 67,750 ▼ 1.95% COPEC 6,139 ▲ 1.98% BSANTANDER 79.00 ▲ 1.94% FALABELLA 5,905 ▲ 0.92% ENELAM 85.40 ▲ 1.47% CENCOSUD 2,045 ▼ 0.55% CMPC 1,109 ▲ 1.32% BANCO CHILE 188.88 ▲ 1.01% LATAM AIR 26.26 ▼ 0.53% YPF 74,400 ▼ 1.81% GGAL 8,350 ▲ 5.96% PAMPA 5,185 ▼ 0.38% TXAR 671.00 ▲ 0.98% ALUAR 978.00 ▲ 0.98% TGS 9,610 ▲ 3.22% CEPU 2,405 ▲ 3.89% MIRGOR 17,375 ▲ 1.02% COME 45.90 ▲ 1.06% LOMA NEGRA 3,583 ▲ 2.43% BYMA 314.00 ▲ 1.37% TELECOM ARG 4,245 ▲ 3.03% ECOPETROL 15.59 ▲ 1.27% BANCOLOMBIA 82.95 ▲ 2.50% GRUPO AVAL 5.08 ▲ 1.20% CREDICORP 400.81 ▲ 2.27% SOUTHERN COPPER 175.83 ▲ 0.80% BUENAVENTURA 30.00 ▲ 1.52% MERCADOLIBRE 1,852 ▲ 2.46% NUBANK 13.76 ▲ 0.66% XP 16.92 ▲ 3.11% PAGSEGURO 9.25 ▲ 2.78% STONE 11.21 ▲ 2.28% GLOBANT 29.96 ▼ 4.25% TECNOGLASS 43.90 ▲ 1.76% GAP AIRPORT 235.64 ▲ 0.50% ASUR 285.12 ▲ 0.53% OMA AIRPORT 108.09 ▼ 0.22% AMX ADR 26.04 ▲ 0.77% FEMSA ADR 127.70 ▲ 0.55% CEMEX ADR 12.48 ▲ 0.89% PETROBRAS ADR 17.32 ▲ 1.70% VALE ADR 14.46 ▲ 1.69% ITAU ADR 8.62 ▲ 4.11% SANTANDER BR 5.39 ▲ 4.86% AMBEV ADR 3.07 ▲ 0.99% CSN 1.01 ▲ 5.79% GERDAU 4.50 ▲ 2.04% LATAM ADR 56.45 ▼ 1.03% BTC 64,138 ▲ 0.02% ETH 1,797 ▲ 0.08% SOL 77.73 ▼ 0.43% XRP 1.11 ▲ 0.13% BNB 575.10 ▲ 0.01% ADA 0.17 ▼ 0.13% DOGE 0.07 ▲ 0.33% AVAX 6.72 ▼ 0.26% LINK 7.99 ▲ 0.38% DOT 0.88 ▲ 0.41% LTC 44.77 ▲ 0.04% BCH 244.96 ▼ 0.12% TRX 0.33 ▼ 0.15% XLM 0.19 ▼ 0.25% HBAR 0.07 ▼ 0.38% NEAR 1.90 ▲ 0.70% ATOM 1.60 ▲ 0.67% AAVE 94.79 ▼ 1.00% 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Op-Ed Guest Opinions

Opinion: Brazil’s Continuing Institutional Problem

By · May 20, 2019 · 3 min read

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Opinion, by Michael Royster

RIBEIRÃO PRETO, BRAZIL – Three years ago, the Curmudgeon published a comment describing Brazil’s biggest problem: the 1988 Constitution created an essentially parliamentary system with institutional features that hinder governance under a presidential system.

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That continues to be the case, as President Bolsonaro is now, to his chagrin, discovering.

For starters, there are dozens of registered political parties, none of which stands for anything other than getting elected and feeding at the public trough. A barely comprehensible “party coefficient” electoral system ensures most legislators do not represent anyone except themselves.

There are “suplentes” or substitute placeholders for legislators who take executive positions, and who can step back into parliament whenever they want, regaining their seats.

There are “medidas provisórias” – presidential decrees with the force of law – common to many failed parliamentary republics of the early 20th century in Europe: both Hitler and Mussolini came to power using the functional equivalents of “medidas provisórias”.

There is even the concept of a “vote of no confidence”, in which the chief executive may be ousted whenever a majority of parliament no longer has confidence in the administration. Disguised as impeachment, this is what befell both former Presidents Collor de Mello and Dilma Rousseff.

All these features have fused into a hybrid system called “coalition presidentialism”, one which has arguably made Brazil ungovernable by fair means, but governable by foul. The “mensalão” and “petrolão” scandals are directly attributable to former President Lula’s manipulation of this system to buy Congressional votes.

During his campaign, Bolsonaro promised voters he would not succumb to the pressures of coalition presidentialism, with its corrupt practice of appointing members of parliament to executive ministerial positions that control departmental budgets.

Bolsonaro also promised voters he would not indulge in the practice of mutual back-scratching with corrupt political parties in order to obtain passage of his proposed legislative reforms – labor, taxes, pensions, privatizations.

So far, at least, he has kept these promises – and has therefore directly challenged the current ruling system so beloved by most members of the parliament.

Bolsonaro proposed replacing this system with one which did not rely upon political parties, but upon special interest blocs – agribusiness, evangelicals, law and order – and “public opinion”, whatever that means.

Unsurprisingly, the blocs cannot agree even within themselves upon the need for, or the scope of, the legislative reforms Bolsonaro wishes to implant. Moreover, there is open division within his closest advisers, as his guru’s sycophants create conflict with military cabinet ministers.

Venal political parties, seizing the moment, demand lucrative ministerial plums before considering the much-needed reforms they all claim they want to support.

There is talk of resignation, with a contrary groundswell supporting a more populist form of government, one where Bolsonaro may more easily impose “the will of the people”, whatever that means, upon the nation.

There is even talk of impeachment, for Bolsonaro seems even less able to obtain the confidence of parliament than were his predecessors Collor and Dilma.

Overthrowing coalition presidentialism may mean turning to a more direct parliamentary system, where the President of the Chamber of Deputies becomes the prime minister.

Alternatively, it may mean turning to a messianic presidential system, bypassing parliament entirely.

Neither alternative would be conducive to democracy and the rule of law.

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