Brazilian real Surges After Ex-President Lula Found Guilty Of Corruption, Sentenced to 9 Years In Prison

Just hours after current President Temer garnered enough votes necessary to block congressional motion that would put him on trial over corruption charges, Reuters reports that former President Lula has been found guilty of on corruption charges and faces 9 years in prison.

Earlier today, Bloomberg reported that Brazil President Michel Temer has more than the 172 votes necessary to block congressional motion that would put him on trial over corruption charges, according to Bloomberg tally of voter intentions.

Tally based on interviews with party leaders, legislators and presidential aides is larger if divided allied parties such as DEM and PSDB are included.
The motion expected to be voted in lower house committee, floor this week.
Govt sees 39-41 of committee’s 66 members against trial.

Which is no all the more fascinating as Brazil’s former president Luiz Inacio Lula da Silva was just sentenced to over 9 years in prison on corruption charges, according to Estado de S. Paulo newspaper. Lula was found guilty by Judge Sergio Moro on charges of money laundering, and bribe taking, Estado reports

And the Real is jubilant…

via http://ift.tt/2vd4O9e Tyler Durden

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