While official numbers will take some time to come out, since 70 of Brazil’s 81 senators are scheduled to speak before an electronic voting. Consensus showed so far 41 of the members have backed the impeachment, while 16 were against it. It requires just simile majority in 81 member Senate to impeach president Rousseff.
If officially impeached this will mark the end of 13 year rule by President Dilma Rousseff’s workers Party and Michel Temer from Brazilian Democratic movement party will assume presidency. Ms. Dilma’s supporters have accused Temer of the coup.
This week, on Monday the whole process was thrown into jeopardy when new house speaker tried to nullify the April 17th house votes to impeach her as false and mistaken.
President Dilam is now supposed to leave her post and face six month long enquiry and if she is impeached there she will be facing charges, while Michel Temer will remain president until 2018.
However there is a small possibility that Ms. Dilma doesn’t leave her presidency by accusing of coup and conspiracy. In such a case, country could fall to greater political chaos.
Brazilian Real is currently trading at 3.45 per Dollar, up more than 12% YTD.
