A majority of lawmakers from a main Brazilian political party decided on Wednesday to support the government in return for cabinet posts, giving President Luiz Inacio Lula da Silva added clout to deal with a bribery scandal.
..."PMDB lawmakers in the national Congress decided by a large majority to support President Luiz Inacio Lula da Silva's call for a governability pact, including the participation of the party in government and the elaboration of policies," the lawmakers said in a declaration.
The party's head, Michel Temer, and several PMDB state governors did not back the pact. But 19 of its 23 senators and 52 of its 85 deputies in the lower house signed the declaration.
A recent corruption scandal in Brazil is unlikely to severely affect that country's economy or the reelection prospects of President Luiz Inacio Lula da Silva, diplomats and political analysts told a gathering in Miami.
...Speaking at a conference Monday sponsored by the Council of the Americas, a Washington-based organization that promotes free trade in the hemisphere, Christopher Garman, an analyst with the international consulting firm Eurasia Group, said he was optimistic about investors' reaction to the scandal.
''Brazil is migrating toward a different category of political risk,'' said Garman. ``In the past such scandals have generated market volatility, but markets have reacted very little to the current political difficulties.''
Brazil has enough things to worry about, from AIDS drugs to protesters on tractors. Plus there's an election next year, which will stall politics as it does in any country. These corruption allegations are simply holding Brazil as a whole back.
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