Don't miss

Replay


LATEST SHOWS

ENCORE!

Eastwood & Gainsbourg: Can the children of geniuses step out from their famous shadows?

Read more

FRENCH CONNECTIONS

Is France a chain-smoking nation?

Read more

IN THE PAPERS

'I got the power': Womanspreading takes hold of social media (and maybe 2018)

Read more

IN THE PAPERS

What a story! France investigating Russian billionaire senator over tax fraud

Read more

BUSINESS DAILY

US retailers gear up for post-Thanksgiving splurge

Read more

MEDIAWATCH

Stars join campaign to #FreeCyntoiaBrown

Read more

EYE ON AFRICA

Mnangagwa to be sworn in as Zimbabwe's president on Friday

Read more

THE DEBATE

Hard bargaining: Lebanon prime minister returns and suspends resignation

Read more

THE INTERVIEW

Keepers of the flame: Native American communities seeking to protect their cultural legacy

Read more

Americas

Brazil’s President Temer refuses to resign despite bribery claims

© Evaristo Sa, AFP | People protest against Brazilian President Michel Temer in Brazilia on May 17, 2017

Text by NEWS WIRES

Latest update : 2017-05-18

Brazil’s President Michel Temer on Thursday defiantly said he would not resign from office despite a Supreme Court decision authorizing an investigation into allegations he condoned bribery of a potential witness in a major corruption probe.

In a terse five-minute speech broadcast nationwide, Temer said he had done nothing wrong, that his presidency was helping turn around Brazil’s stalled economy and that he welcomed an investigation so that he could prove his innocence.

“I did not buy the silence of anyone,” Temer said, referring to the allegations made against him. “I will not resign.”

The investigation into a sitting president sent Brazilian financial markets tumbling and raised doubts that Congress would pass Temer’s ambitious austerity agenda.

Temer’s situation grew more perilous after the Supreme Court approved an investigation into allegations against him, according to a source with direct knowledge of the decision.

A Supreme Court justice also approved plea-bargain testimony and an audio recording that allegedly captured him conspiring to obstruct justice with Joesley Batista, chairman of the world’s largest meatpacker, JBS SA. That approval allows the court to quickly make both the testimony and audio public.

Leaders of Temer’s biggest allied party in Congress, the PSDB, said that if the allegations proved true, they would demand the resignation of three of their members who are in the president’s cabinet.

“The president is absolutely convinced he committed no crime, but that has to be made clear to the eyes of everyone,” a top presidential aide told Reuters.

Brazilian markets plunged on concerns the investigation could derail Temer’s sweeping fiscal reforms.

Shares of state-controlled companies, such as Banco do Brasil SA and Centrais Elétricas Brasileiras SA, or Eletrobras, lost about a fifth of their value, and the nation’s currency fell 7.5 percent, wiping out its gains for the year.

Brazil’s Treasury and central bank said they stood ready to keep markets liquid before acting to smooth volatility in local currency and bond markets.

(REUTERS)

Date created : 2017-05-18

  • BRAZIL

    Brazil's ex-president Lula questioned in graft probe

    Read more

  • BRAZIL

    Anti-austerity strikes spark travel chaos across Brazil

    Read more

  • BRAZIL

    Brazil judge orders corruption probe into dozens of lawmakers

    Read more

COMMENT(S)