Brazil’s political drama may end in Supreme Court

Last night Brazil’s political chaos took a different turn, when lower house acting speaker Waldir Maranhão tried to nullify the house vote on April, 17th, calling there have been flaws. Brazilian Real lost more than 4% over the news.

Mr. Maranhão was barely known unless he replaced Mr. Edwardo Cunha, the former speaker, who had to step down over corruption charge. It was Mr. Cunha, who oversaw the impeachment process of Ms. Rousseff in the house.

On April 17, lawmakers in the lower house of Congress chose overwhelmingly with 367 lawmakers voting for impeachment, 137 voting against and seven abstaining to send the process to the  Senate, which will decide if the President should be suspended and go on trial or not.

Senate is supposed to vote on Wednesday over Rousseff’s impeachment and said they will go ahead with the vote as planned, dismissing Waldir’s attempt to nullify the vote. Both the parties have planned to move to the Supreme Court to decide whether the process was valid or not.

Ms. Rousseff’s supporters have alleged that former Vice-President, Michel Temer, who will be replacing Ms. Rousseff, if she is impeached, of coup and conspiracy.

This latest drama shows the precarious state of Brazilian politics and bitter power struggle at a time, when the country will be holding Summer Olympics.

Real is currently trading at 3.52 per Dollar.