Temer Defiant, Refuses to Resign

Temer Defiant, Refuses to Resign

Brazil’s president is vowing to remain in power despite a damaging new corruption allegation, but Latin America’s largest nation could very well be rudderless as long as he stays at the head of what one analyst is calling a “walking dead administration”.
President Michel Temer struck a defiant note on Thursday, promising he would be found innocent in a Supreme Court investigation into allegations that he endorsed a scheme to pay hush money to a former influential legislator who is now in prison for corruption, ABC reported.
But Brazil and his administration will not shrug off the incendiary allegations so easily. Stock prices and Brazil’s currency were pummeled, as investors digested the allegation first reported by the newspaper Globo late Wednesday.
As long as Temer stays in power, the political turmoil could leave the country adrift, just as it needs a strong hand to pull its economy out of a deep and protracted recession.

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