Brazil For Sale: How a Legal Coup Set the Stage for Privatization

 More austerity and the sell off of treasured public assets will worsen an already crippling recession.

  

" Under pressure from the once-powerful industrial confederation FIESP, which bankrolled the impeachment movement, Finance Minister Henrique Meirelles has backed off his promises to raise taxes and will instead place the burden of the austerity program on further cuts to public spending and investment. This would threaten the very foundation of the Workers’ Party’s antipoverty program. One proposal would condition the funding of already beleaguered state and local governments on their ability to reduce the number of poor families receiving the antipoverty subsidy. Worse, a new proposed bill would set constitutional limits on spending, locking in austerity ad infinitum and eliminating the minimum allocation for education and health.

The financial markets are delighted by all of this."

read article by Andy Robinson

Brazil For Sale: How a Legal Coup Set the Stage for Privatization | The Nation