update on brazil [C]
Classification: Confidential
noteworthy
--- Original Sender: JOSE CARLOS FARIA, DEUTSCHE BANK S.A. B ---
Latest noteworthy developments:
Labor unions have scheduled demonstrations all over the country today, at the same time demanding the preservation of labor rights (jeopardized by Levy's fiscal adjustment) and protesting against a potential "rupture in democracy" (in other words, supporting President Dilma Rousseff and rejecting her impeachment). Demonstrations in favor of Dilma's impeachment are scheduled for Sunday.
According to Broadcast newswire service, Finance Minister Joaquim Levy threatened to resign during the tough negotiation that he held with Senate Sepaker Renan Calheiros on Wednesday night in order to prevent Congress from overriding Rousseff's veto on the extension of electricity subsidies until 2042.
The local press is also reporting that Dilma and Lula had a serious altercation when they met Tuesday night.
According to Folha de S.Paulo, Petrobras is negotiating with its creditors a six-month delay for the publication of its audited results.
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