IBOV 176,874 ▲ 0.65% IPSA 10,928 ▲ 0.16% IPC MEX 66,605 ▲ 0.96% MERVAL 3,235,295 ▼ 1.37% COLCAP 2,313.36 ▲ 0.25% BVL PERÚ 56,428.20 ▲ 2.68% USD/BRL5.07▼ 1.22% USD/MXN17.41▼ 0.70% USD/CLP922.87▼ 1.08% USD/COP3,245▼ 0.53% USD/PEN3.40▼ 0.19% USD/ARS1,476▼ 0.47% USD/UYU40.23▲ 0.99% USD/PYG6,039▲ 1.12% USD/BOB10.35▲ 6.04% USD/DOP58.33▲ 0.42% USD/CRC448.93▲ 1.31% USD/GTQ7.62▲ 2.07% USD/HNL26.73▲ 1.38% USD/NIO36.62▲ 0.63% USD/VES722.19▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.59▲ 0.64% USD/TTD6.75▲ 1.19% EUR/BRL5.81▼ 0.13% BRENT 85.68 ▲ 2.86% WTI 79.91 ▲ 2.27% IRON ORE 161.91 — — COPPER 6.42 ▲ 2.97% GOLD 4,083 ▲ 2.15% SILVER 59.38 ▲ 3.03% SOY 1,193 ▼ 0.73% CORN 460.50 ▲ 5.20% WHEAT 638.75 ▲ 1.87% COFFEE 332.50 ▼ 2.61% SUGAR 14.84 ▲ 0.61% ORANGE JUICE 137.10 ▼ 3.82% COTTON 81.07 ▲ 1.55% COCOA 5,580 ▼ 2.04% BEEF 228.73 ▼ 2.56% CATTLE 350.58 ▼ 1.07% LITHIUM 71.65 ▲ 2.01% PETR4 40.85 ▲ 0.47% VALE3 74.49 ▲ 2.25% ITUB4 43.81 ▲ 0.67% BBDC4 18.90 ▲ 0.69% ABEV3 15.95 ▲ 0.76% BBAS3 20.49 ▲ 1.24% B3SA3 15.38 ▲ 1.72% WEGE3 44.47 ▲ 0.18% PRIO3 57.25 ▲ 0.09% SUZB3 41.03 ▼ 1.11% RENT3 40.47 ▲ 0.67% AZZA3 18.99 ▼ 1.20% CSAN3 3.90 — 0.00% RAIZ4 0.34 ▲ 3.03% PCAR3 2.52 ▼ 2.70% GMAT3 3.96 ▲ 0.51% PSSA3 54.63 ▲ 1.09% CVCB3 1.30 ▲ 4.00% POSI3 3.97 ▼ 0.50% SLCE3 13.83 ▼ 0.29% NATU3 8.49 ▼ 1.28% BRKM5 6.83 ▼ 1.59% RANI3 7.98 ▲ 0.38% CSNA3 5.13 ▼ 2.10% CMIN3 5.15 ▼ 5.50% USIM5 8.29 ▼ 1.07% GGBR4 23.10 ▲ 1.23% ENEV3 26.87 ▼ 0.04% CPFE3 47.02 ▲ 0.38% CMIG4 11.13 ▲ 0.54% EQTL3 40.65 ▲ 1.09% LREN3 14.17 ▲ 0.14% VIVT3 35.16 ▲ 1.24% RAIL3 14.14 ▲ 0.21% KLABIN 17.40 ▼ 0.46% RAIA DROGASIL 18.52 ▲ 1.76% RDOR3 36.07 ▲ 1.43% HAPV3 10.61 ▲ 1.43% FLRY3 16.27 ▲ 0.74% SMTO3 16.37 — 0.00% UGPA3 30.93 ▲ 0.72% VBBR3 32.18 ▼ 1.77% BBSE3 40.33 ▲ 0.12% BPAC11 57.82 ▲ 0.52% CURY3 33.16 ▲ 0.12% AERI3 2.09 ▲ 0.48% VIVARA 23.32 ▲ 0.91% COMPASS 24.93 ▲ 0.65% VAMOS 3.04 ▲ 0.66% SANB11 27.55 ▲ 0.66% ASAI3 8.65 ▼ 0.69% SBSP3 30.43 ▲ 0.20% WALMEX 49.54 ▼ 0.22% GMEXICO 203.65 ▲ 4.12% FEMSA 227.14 ▲ 0.79% CEMEX 22.67 ▲ 4.09% GFNORTE 184.85 ▲ 1.53% BIMBO 55.99 ▲ 0.21% TELEVISA 9.57 ▼ 0.42% AMX 22.73 ▲ 0.62% GAP 388.01 ▼ 4.94% ASUR 277.97 ▼ 0.25% OMA 233.21 ▼ 0.05% KOF 180.57 ▼ 0.61% GRUMA 282.47 ▲ 0.39% KIMBER 38.25 ▲ 0.08% SQM-B 67,900 ▲ 1.03% COPEC 6,057 — 0.00% BSANTANDER 78.00 ▼ 0.26% FALABELLA 5,905 — 0.00% ENELAM 84.20 ▼ 1.41% CENCOSUD 2,040 — 0.00% CMPC 1,078 — 0.00% BANCO CHILE 185.93 ▲ 0.50% LATAM AIR 24.90 — 0.00% YPF 77,175 — 0.00% GGAL 8,080 — 0.00% PAMPA 5,225 — 0.00% TXAR 664.50 — 0.00% ALUAR 964.50 — 0.00% TGS 9,570 — 0.00% CEPU 2,319 — 0.00% MIRGOR 17,000 ▼ 1.45% COME 44.78 — 0.00% LOMA NEGRA 3,498 — 0.00% BYMA 308.25 — 0.00% TELECOM ARG 4,250 — 0.00% ECOPETROL 16.10 ▲ 1.36% BANCOLOMBIA 82.40 ▲ 2.46% GRUPO AVAL 4.93 ▲ 0.41% CREDICORP 393.25 ▲ 1.03% SOUTHERN COPPER 182.88 ▲ 4.78% BUENAVENTURA 31.32 ▲ 5.03% MERCADOLIBRE 1,863 ▼ 0.23% NUBANK 14.19 ▲ 3.77% XP 16.62 ▲ 1.53% PAGSEGURO 9.33 ▲ 0.54% STONE 11.33 ▲ 1.61% GLOBANT 31.65 ▼ 1.48% TECNOGLASS 43.03 ▲ 0.44% GAP AIRPORT 223.75 ▼ 3.88% ASUR 277.97 ▼ 0.25% OMA AIRPORT 107.23 ▲ 1.04% AMX ADR 26.12 ▲ 0.33% FEMSA ADR 130.92 ▲ 1.48% CEMEX ADR 13.09 ▲ 5.14% PETROBRAS ADR 18.11 ▲ 1.29% VALE ADR 14.67 ▲ 3.42% ITAU ADR 8.64 ▲ 1.95% SANTANDER BR 5.47 ▲ 2.15% AMBEV ADR 3.13 ▲ 2.12% CSN 1.02 ▼ 1.46% GERDAU 4.58 ▲ 1.89% LATAM ADR 52.99 ▼ 0.65% BTC 63,646 ▲ 2.26% ETH 1,863 ▲ 5.05% SOL 76.76 ▲ 2.54% XRP 1.10 ▲ 2.85% BNB 578.79 ▲ 2.15% ADA 0.16 ▲ 3.67% DOGE 0.07 ▲ 2.70% AVAX 6.63 ▲ 2.88% LINK 8.27 ▲ 5.07% DOT 0.85 ▲ 1.49% LTC 44.54 ▲ 2.42% BCH 238.48 ▲ 0.95% TRX 0.33 ▲ 0.34% XLM 0.18 ▲ 1.77% HBAR 0.07 ▲ 0.70% NEAR 2.02 ▲ 5.28% ATOM 1.54 ▲ 0.59% AAVE 98.68 ▲ 4.58% SELIC 14.25% EMBRAER 82.91 ▼ 0.12% EMBRAER ADR 65.38 ▲ 1.40% JBS 11.87 ▲ 0.55% JBS BDR 59.85 ▼ 1.25% MBRF3 15.91 ▲ 1.21% MBRFY 3.05 — 0.00% INTER 5.78 ▲ 2.30% EGX 52,299 ▼ 0.59% USD/ZAR16.33▼ 0.90% USD/NGN1,381▲ 0.07% NIKKEI 67,744 ▲ 0.74% CSI300 4,797 ▲ 2.15% HSI 24,341 ▲ 0.52% NIFTY 24,052 ▼ 0.66% KOSPI 6,857 ▲ 0.73% JCI 6,040 ▲ 0.03% USD/JPY161.90▼ 0.33% USD/CNY6.76▼ 0.32% DAX 25,087 ▼ 0.11% CAC 8,366 ▲ 0.02% FTSE 10,537 ▲ 0.37% MIB 52,863 ▲ 0.10% IBEX 19,352 ▲ 0.09% STOXX 641.95 ▲ 0.15% EUR/USD1.15▲ 0.67% GBP/USD1.34▲ 0.25% SPX 7,540 ▲ 0.33% DJI 52,557 ▲ 0.11% NDX 29,575 ▲ 1.06% RUT 2,976 ▲ 0.78% TSX 35,404 ▲ 0.43% VIX 16.53 ▼ 3.67% USD/CAD1.41▼ 0.69% US10Y 4.5750 ▼ 0.74% IBOV 176,874 ▲ 0.65% IPSA 10,928 ▲ 0.16% IPC MEX 66,605 ▲ 0.96% MERVAL 3,235,295 ▼ 1.37% COLCAP 2,313.36 ▲ 0.25% BVL PERÚ 56,428.20 ▲ 2.68% USD/BRL 5.07 ▼ 1.22% USD/MXN 17.41 ▼ 0.70% USD/CLP 922.87 ▼ 1.08% USD/COP 3,245 ▼ 0.53% USD/PEN 3.40 ▼ 0.19% USD/ARS 1,476 ▼ 0.47% USD/UYU 40.23 ▲ 0.99% USD/PYG 6,039 ▲ 1.12% USD/BOB 10.35 ▲ 6.04% USD/DOP 58.33 ▲ 0.42% USD/CRC 448.93 ▲ 1.31% USD/GTQ 7.62 ▲ 2.07% USD/HNL 26.73 ▲ 1.38% USD/NIO 36.62 ▲ 0.63% USD/VES 722.19 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.59 ▲ 0.64% USD/TTD 6.75 ▲ 1.19% EUR/BRL 5.81 ▼ 0.13% BRENT 85.68 ▲ 2.86% WTI 79.91 ▲ 2.27% IRON ORE 161.91 — — COPPER 6.42 ▲ 2.97% GOLD 4,083 ▲ 2.15% SILVER 59.38 ▲ 3.03% SOY 1,193 ▼ 0.73% CORN 460.50 ▲ 5.20% WHEAT 638.75 ▲ 1.87% COFFEE 332.50 ▼ 2.61% SUGAR 14.84 ▲ 0.61% ORANGE JUICE 137.10 ▼ 3.82% COTTON 81.07 ▲ 1.55% COCOA 5,580 ▼ 2.04% BEEF 228.73 ▼ 2.56% CATTLE 350.58 ▼ 1.07% LITHIUM 71.65 ▲ 2.01% PETR4 40.85 ▲ 0.47% VALE3 74.49 ▲ 2.25% ITUB4 43.81 ▲ 0.67% BBDC4 18.90 ▲ 0.69% ABEV3 15.95 ▲ 0.76% BBAS3 20.49 ▲ 1.24% B3SA3 15.38 ▲ 1.72% WEGE3 44.47 ▲ 0.18% PRIO3 57.25 ▲ 0.09% SUZB3 41.03 ▼ 1.11% RENT3 40.47 ▲ 0.67% AZZA3 18.99 ▼ 1.20% CSAN3 3.90 — 0.00% RAIZ4 0.34 ▲ 3.03% PCAR3 2.52 ▼ 2.70% GMAT3 3.96 ▲ 0.51% PSSA3 54.63 ▲ 1.09% CVCB3 1.30 ▲ 4.00% POSI3 3.97 ▼ 0.50% SLCE3 13.83 ▼ 0.29% NATU3 8.49 ▼ 1.28% BRKM5 6.83 ▼ 1.59% RANI3 7.98 ▲ 0.38% CSNA3 5.13 ▼ 2.10% CMIN3 5.15 ▼ 5.50% USIM5 8.29 ▼ 1.07% GGBR4 23.10 ▲ 1.23% ENEV3 26.87 ▼ 0.04% CPFE3 47.02 ▲ 0.38% CMIG4 11.13 ▲ 0.54% EQTL3 40.65 ▲ 1.09% LREN3 14.17 ▲ 0.14% VIVT3 35.16 ▲ 1.24% RAIL3 14.14 ▲ 0.21% KLABIN 17.40 ▼ 0.46% RAIA DROGASIL 18.52 ▲ 1.76% RDOR3 36.07 ▲ 1.43% HAPV3 10.61 ▲ 1.43% FLRY3 16.27 ▲ 0.74% SMTO3 16.37 — 0.00% UGPA3 30.93 ▲ 0.72% VBBR3 32.18 ▼ 1.77% BBSE3 40.33 ▲ 0.12% BPAC11 57.82 ▲ 0.52% CURY3 33.16 ▲ 0.12% AERI3 2.09 ▲ 0.48% VIVARA 23.32 ▲ 0.91% COMPASS 24.93 ▲ 0.65% VAMOS 3.04 ▲ 0.66% SANB11 27.55 ▲ 0.66% ASAI3 8.65 ▼ 0.69% SBSP3 30.43 ▲ 0.20% WALMEX 49.54 ▼ 0.22% GMEXICO 203.65 ▲ 4.12% FEMSA 227.14 ▲ 0.79% CEMEX 22.67 ▲ 4.09% GFNORTE 184.85 ▲ 1.53% BIMBO 55.99 ▲ 0.21% TELEVISA 9.57 ▼ 0.42% AMX 22.73 ▲ 0.62% GAP 388.01 ▼ 4.94% ASUR 277.97 ▼ 0.25% OMA 233.21 ▼ 0.05% KOF 180.57 ▼ 0.61% GRUMA 282.47 ▲ 0.39% KIMBER 38.25 ▲ 0.08% SQM-B 67,900 ▲ 1.03% COPEC 6,057 — 0.00% BSANTANDER 78.00 ▼ 0.26% FALABELLA 5,905 — 0.00% ENELAM 84.20 ▼ 1.41% CENCOSUD 2,040 — 0.00% CMPC 1,078 — 0.00% BANCO CHILE 185.93 ▲ 0.50% LATAM AIR 24.90 — 0.00% YPF 77,175 — 0.00% GGAL 8,080 — 0.00% PAMPA 5,225 — 0.00% TXAR 664.50 — 0.00% ALUAR 964.50 — 0.00% TGS 9,570 — 0.00% CEPU 2,319 — 0.00% MIRGOR 17,000 ▼ 1.45% COME 44.78 — 0.00% LOMA NEGRA 3,498 — 0.00% BYMA 308.25 — 0.00% TELECOM ARG 4,250 — 0.00% ECOPETROL 16.10 ▲ 1.36% BANCOLOMBIA 82.40 ▲ 2.46% GRUPO AVAL 4.93 ▲ 0.41% CREDICORP 393.25 ▲ 1.03% SOUTHERN COPPER 182.88 ▲ 4.78% BUENAVENTURA 31.32 ▲ 5.03% MERCADOLIBRE 1,863 ▼ 0.23% NUBANK 14.19 ▲ 3.77% XP 16.62 ▲ 1.53% PAGSEGURO 9.33 ▲ 0.54% STONE 11.33 ▲ 1.61% GLOBANT 31.65 ▼ 1.48% TECNOGLASS 43.03 ▲ 0.44% GAP AIRPORT 223.75 ▼ 3.88% ASUR 277.97 ▼ 0.25% OMA AIRPORT 107.23 ▲ 1.04% AMX ADR 26.12 ▲ 0.33% FEMSA ADR 130.92 ▲ 1.48% CEMEX ADR 13.09 ▲ 5.14% PETROBRAS ADR 18.11 ▲ 1.29% VALE ADR 14.67 ▲ 3.42% ITAU ADR 8.64 ▲ 1.95% SANTANDER BR 5.47 ▲ 2.15% AMBEV ADR 3.13 ▲ 2.12% CSN 1.02 ▼ 1.46% GERDAU 4.58 ▲ 1.89% LATAM ADR 52.99 ▼ 0.65% BTC 63,646 ▲ 2.26% ETH 1,863 ▲ 5.05% SOL 76.76 ▲ 2.54% XRP 1.10 ▲ 2.85% BNB 578.79 ▲ 2.15% ADA 0.16 ▲ 3.67% DOGE 0.07 ▲ 2.70% AVAX 6.63 ▲ 2.88% LINK 8.27 ▲ 5.07% DOT 0.85 ▲ 1.49% LTC 44.54 ▲ 2.42% BCH 238.48 ▲ 0.95% TRX 0.33 ▲ 0.34% XLM 0.18 ▲ 1.77% HBAR 0.07 ▲ 0.70% NEAR 2.02 ▲ 5.28% ATOM 1.54 ▲ 0.59% AAVE 98.68 ▲ 4.58% SELIC 14.25% EMBRAER 82.91 ▼ 0.12% EMBRAER ADR 65.38 ▲ 1.40% JBS 11.87 ▲ 0.55% JBS BDR 59.85 ▼ 1.25% MBRF3 15.91 ▲ 1.21% MBRFY 3.05 — 0.00% INTER 5.78 ▲ 2.30% EGX 52,299 ▼ 0.59% USD/ZAR 16.33 ▼ 0.76% USD/NGN 1,381 ▲ 0.20% NIKKEI 67,744 ▲ 0.74% CSI300 4,797 ▲ 2.15% HSI 24,341 ▲ 0.52% NIFTY 24,052 ▼ 0.66% KOSPI 6,857 ▲ 0.73% JCI 6,040 ▲ 0.03% USD/JPY 161.94 ▼ 0.31% USD/CNY 6.7584 ▼ 0.18% DAX 25,087 ▼ 0.11% CAC 8,366 ▲ 0.02% FTSE 10,537 ▲ 0.37% MIB 52,863 ▲ 0.10% IBEX 19,352 ▲ 0.09% STOXX 641.95 ▲ 0.15% EUR/USD 1.1453 ▲ 0.58% GBP/USD 1.3415 ▲ 0.49% SPX 7,540 ▲ 0.33% DJI 52,557 ▲ 0.11% NDX 29,575 ▲ 1.06% RUT 2,976 ▲ 0.78% TSX 35,404 ▲ 0.43% VIX 16.53 ▼ 3.67% USD/CAD 1.4070 ▼ 0.59% US10Y 4.5750 ▼ 0.74%
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Opinion: Brazil’s Impeachment – The Final Lap

By · August 24, 2016 · 3 min read

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Opinion by Michael Royster

RIO DE JANEIRO, BRAZIL – The Curmudgeon has spent the past few weeks thinking about the truly important things in life (booing French pole vaulters, yelling “Zika” at Hope Solo, trashing service stations, etc.) rather than waste his time on such mundane affairs as the impending impeachment. But, all good things must come to an end, so it’s back to the grindstone, at least until the Paralympics come to town on Brazil’s Independence Day, September 7th.

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The timetable for impeachment has now been agreed upon by the President of the Senate and the President pro tempore of the Senate, STF Presiding Justice Ricardo Lewandowski. Basically, the prosecution will present its case to the full Senate this week, and the defense will present its case immediately thereafter.

According to the plan, Senators will not, as is their custom, leave town en masse on Thursday evening, in order to spend the weekend with family and friends, returning to work only on the following Tuesday. Rather, there will be extraordinary sessions Friday, Saturday, Sunday and even Monday. The reason is that the pro-impeachment partisans want the Independence Day celebrations to be presided over by President Temer rather than by Acting President Temer.

The proceedings will be televised, but if you’re looking for high courtroom drama, don’t get your hopes up. After all, this will be at least the fourth time the prosecution and the defence have had to plead their respective cases—the House Impeachment Committee, the full House, the Senate Impeachment Committee, and now the full Senate.

Moreover, after those presentations, each and every Senator will be granted ten minutes of fleeting fame as they justify the way they intend to vote. This spectacle will surely be terminally boring, as we can expect the same sort of irrelevant twaddle that hundreds of members of the lower House spewed forth during the hearings there.

Worse, yet, this procedure is not only ridiculous, it makes a mockery of the due process of law. The Senate is now sitting as a jury in a trial. Imagine, if you will, a criminal case where the judge invites the jurors to stand up on their hind legs after the closing summations from counsel, and announce their position on the guilt or innocence of the defendant before they are cloistered for their deliberations!

If drama is to happen, it will take the form of a personal appearance as a witness by the defendant, now scheduled for Monday August 29th. Dilma Rousseff is widely expected to repeat the litany she has religiously followed since her ousting: she is personally honest, she committed no crime, impeachment is a parliamentary coup and there ought to be new elections for President and both houses of Congress this year.

If she does testify, she can be questioned by Senators; if so, we can expect sparks to fly and raucous cheers and jeers from the assembled Senators and onlookers. Come to think of it, it’s not all that different from the Olympic Games.

The Curmudgeon will doubtless be glued to the tube during the impeachment proceedings, and promises to pass out his own version of medals afterwards.

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