When: Thursday, May 12, 6pm-8:30pm
Location: Silicon Valley Bank, 3005 Tasman Drive, Santa Clara, CA
Brazil is in the midst of a severe crisis. The economy contracted 3.8% in 2015 and is expected to decline another 3.5% this year. Inflation and unemployment have soared with 10 million Brazilians currently unemployed, 3 million more than a year ago.
On top of that, the massive corruption scandal at Petrobras, unveiled in an investigation called Operation Car Wash, led to criminal charges against politicians and business men for a bribery scam worth billions of dollars. Several Petrobras executives, contractors and politicians have been implicated. And, last April 17, the lower house of Brazil’s legislature voted 367 to 137 to start impeachment proceedings against President Dilma Rousseff for allegedly using accounting maneuvers to cover up a budget deficit.
On April 25, Brazil’s Senate took a major step in the impeachment process by electing members of a committee that will recommend whether to oust President Rousseff.
The final outcome can be known as early as May 12, when we will gather at Silicon Valley Bank to discuss the situation and what will happen next.
If the impeachment goes through, most likely VP Michel Temer will assume however, his approval ratings are similar to Rousseff’s. A recent Datafolha survey showed that about 60% of Brazilians want both the President and her VP to resign. The next person in line is Speaker of the House Eduardo Cunha who faces allegations of his own. He’s been accused of having embezzled millions of dollars and has been investigated over alleged perjury, money laundering and bribes
How likely is President Rousseff to be removed from office?
How much legitimacy will a new government have in the eyes of international leaders?
On May 12, join us to discuss the impeachment process outcome and share your perspective on the political turmoil in Brazil.