Latin America

Deutsche Bank cuts 35.000 Jobs in Latin America

eutsche Bank, the biggest German bank, announced yesterday what it called a major restructuring. Its new president, John Cryan, used his first press conference to present hard adjustment plans “to clean up the bank”. After taking record losses of more than 6 billion euros in the third quarter, Cryan said the bank will reduce its workforce by more than 35,000 employees in the next two years. The bank will ...Read full article...

Farmers oppose Construction of Nicaragua Canal

Managua, the Capital city of the country has been paralysed due to the protests. housands of Nicaraguan peasants marched from the countryside to the capital to oppose the construction of a canal whose grant was given to a Chinese businessman, and whose construction is valued at $50 billion dollars. The project has encountered many protests from environmental organizations, although Daniel Ortega’s government argues that it is a great commercial ...Read full article...

Corrupt Politicians in Brazil Exempt Themselves from Corruption

Congressional Commission exonerates Lula and Dilma in Petrobras corruption case. oday the mafia that governs Brazil woke up laughing out loud at the people who thought the country still had a future. The mafia cannot stop laughing at the people who thought that the politicians of the Worker’s Party (PT) and the PMDB would do justice in the Petrobras scandal. According to the report of the congressional commission, there ...Read full article...

Rousseff’s Government still breaking Accounting Laws

The government of Brazilian President Dilma Rousseff has committed and continues to commit “serious irregularities” in the management of public accounts, said Friday the prosecutor in charge of investigating government wrongdoings with public funds. The member of the Public Accounts Ministry, Julio Marcelo de Oliveira, detected manoeuvres by the government during the last fiscal year to manipulate its standing. These practices have been found to be illegal by the ...Read full article...

Brazilian Political Elite postpones start of Impeachment against Rousseff

In Brazil, unlawful maneuvers by the Rousseff administration are ‘forgiven’ because they were committed in a different administration. On Tuesday, the country woke up expecting some outcome, for better or worse, on the future of President Dilma Rousseff: the leader of the Chamber of Deputies, Eduardo Cunha, had to accept or reject the opening of impeachment proceedings for alleged irregularities in government accounts in 2014. But the plot has ...Read full article...

Impeachment knocks on Dilma Rousseff’s door

Brazilian legislators decide Dilma Rousseff’s political future. The signs of corruption in the Rousseff administration are undeniable. Federal police and national prosecutors have found enough proof to open investigations against corporate leaders, politicians, congressmen and even the former president Luiz Inacio Lula da Silva. So, why not a full investigation on Dilma Rousseff’s actions regarding her administration’s accounting practices? Brazil has, for the moment, more questions than answers, but ...Read full article...

Brazilian Court Approves Investigation of Rousseff’s Reelection Campaign

The Superior Electoral Tribunal (TSE) of Brazil decided Tuesday night to reopen the process of investigation into alleged irregularities in the election campaign of President Dilma Rousseff. The action was filed by the opposition party, the PSDB, which calls for the annulment of the mandate of the president and her vice president, Michel Temer. The Electoral Court approved a measure to re-open the investigation by a vote of 5 ...Read full article...

Dilma Rousseff ‘splits the loot’ to hold on to her Presidency

I am strong, and I won’t be bullied by false accusations. I do not intend to leave power. This is what we heard from Brazilian president, Dilma Rousseff, just a few weeks ago as the economic and political storms grew larger in Brazil. This week, Rousseff’s tone has changed radically as she has been obligated to split the loot with her political adversaries to avoid her imminent fall from ...Read full article...

Dilma Rousseff Upsets Peasant Organizations

The most traditional core of supporters of the Worker’s Party (PT) has shown its dissatisfaction and opposition to Dilma Rousseff’s latest round of austerity. The Movimento dos Trabalhadores Sem Teto (MST) has illegally occupied a particular farm to demand housing. Taking over private property is a common practice in Brazil, where even the government joins farmers and landless people to get them into some land. The occupation is aimed ...Read full article...

Dilma Rousseff seeks Authoritarian powers

There is nothing more dangerous than a bold politician on a power trip whose authoritarian desires blind her up to the point of believing that she should get even more power. In Brazil, career politicians like Dilma Rousseff and Lula da Silva, who have been immune to accountability for years, are now resourcing to authoritarian measures to neutralize popular opposition to new austerity policies. According to local press reports, ...Read full article...

Dilma Rousseff announces more Taxes and less Social spending

PORTO ALEGRE, RS – Dilma Rousseff’s government announced this week that it intends to reintroduce a tax on financial transactions -CPMF- for the next four years. Her government will also freeze the salaries of federal workers for seven months and cut spending on social programs such as Minha Casa Minha Vida (My Home my Life), by almost 30%. Some of the social programs that will experience cuts include many ...Read full article...

Is Dilma’s party being criminalized?

Current investigations show that the Worker’s Party (PT) functions like a criminal organization more than a political group. Dilma Rousseff’s Foreign Policy Adviser, Marco Aurelio Garcia, believes there is a plot to make the Worker’s Party look like a gangster syndicate. Garcia, who travels to foreign lands to justify his party’s mismanagement of government said in an interview that for him it came as a surprise that the credit rating ...Read full article...

Fiscal Deterioration costs Brazil another Downgrade

The negative outlook, according to S&P, reflects a 30% possibility of a further downgrade because of fiscal deterioration probability. Most Brazilians do not like Dilma Rousseff, and now, it seems that neither do investors or lending entities. It is true, rating agencies are only part of a global Ponzi scheme, however, it is their opinions about the creditworthiness of a country what determines whether that country has access to ...Read full article...

Guatemalan President in Prison accused of bribery, conspiracy and fraud

Rarely in the history of Latin America political fire consumed so quickly. ‘Former General Otto Perez Molina went from being President of the Republic of Guatemala to becoming a common prisoner in just 24 hours. Moreover, the road that took him to prison was a short one. In only 14 days, Molina was accused, stripped from his immunity, obligated to resign and put in prison without delay. In a ...Read full article...

Guatemalan President Resigns Under Threat of Arrest

The president of Guatemala, Otto Perez, accused of corruption and at risk of being arrested after the prosecution’s request, has resigned, as reported by his office’s spokesman, Jorge Ortega. A judge in Guatemala has authorized an arrest warrant against the president, accused of leading a network of corruption in the country. The prosecution’s spokeswoman, Julia Barrera, told reporters that the Public Ministry (MP) made this request but, for the ...Read full article...