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Weekly Report - 08 January 2015 (WR-15-01)

Tough start to second term for Brazil's Rousseff

While a presidential inauguration is perhaps not a time for self-criticism, Brazil’s President Dilma Rousseff’s speech on starting a second term in office was notable for its hubris. “We have already accomplished the impossible,” she said. “Only miracles are yet to come.” After 12 years of the left-wing Partido dos Trabalhadores (PT) in power it was unsurprising that the crowd that attended the event was much smaller than for previous inaugurations. But the fact no opposition leader showed up is indicative of the poisonous political atmosphere at the start of Rousseff’s second term. Growth is weak, inflation high and the political implications of the massive corruption scandal at the state oil giant Petrobras have only just begun.

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