Rousseff's Likely Successor Has Legal Problems of His Own
- Michel Temer is widely viewed as market-friendly but with risk
- His party split Tuesday from coalition in Rousseff setback
What Uncertainty in Emerging Markets Means for Investors
With President Dilma Rousseff of Brazil looking increasingly likely to face impeachment by early May, investors are turning their attention to the man who’d succeed her.
Michel Temer, the vice president, has plenty of traits that’d be welcomed in a country mired in a brutal recession. Those who know him best say he’s a business-friendly pragmatist who’s developed a knack over a multi-decade political career for forging agreements with fellow lawmakers. But then there’s this too: He runs the risk of getting forced out of office by charges related to the same impeachment case being brought against Rousseff. Temer’s PMDB party, the largest in the country, abandoned the governing coalition at a meeting Tuesday broadcast live on local television.