FIRST AIRED: December 7, 2016

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

×

Transcript

00:00:00
>>
FOREIGN]
> Michel Temer took over as Brazil's president back in May when his predecessor Dilma Rousseff was being impeached. At the time, a lot of Brazilians hoped that a new face, a new administration could really navigate some of the economic and political problems. Not to mention the corruption scandals that have been hobbling Latin America's biggest country for several years now.
00:00:22
It hasn't turned out that way for Reuters in Rio de Janeiro, this is Paolo Trotta. Temer's betting on two big reforms to help restore confidence in the economy and thereby bring about growth. One of them is a cap on government spending, the other is an overhaul of the costly social security system here.
00:00:39
Either of those, though, is gonna take a while before they bear fruit. And, in the meantime, the economy has gone further into recession. Last week, official data showed that the economy shrank for the seventh consecutive quarter. And people are now projecting possibly a third straight year of recession.
00:00:57
Meantime, the gridlock in Congress has gotten even worse. Other than those two political measures, not a whole lot is being talked about, not a whole lot is being done. The corruption scandals has actually worsened, so, Instead of a quick fix for Brazil's woes, we're looking at a similar situation for Temer as he predecessor Rousseff had.
00:01:21
And Brazilians are looking at more uncertainty, more economic woes, and a lot of tension between all the various branches of government about how to get this country out of its biggest mess in a long time.