Adrift: Brazil’s Crisis of Confidence / by Mark Langevin

Brazil fell to Germany 7-1 in the semi-final of last year’s FIFA World Cup soccer championship held in Brazil. Since then, things have only gotten worse for both FIFA and Brazil.

On the Brazilian side, President Dilma Rousseff, re-elected in October 2014 to a second term, has seen her approval ratings hit rock bottom to around 7% in recent opinion polls (probably just a co-incidence with Germany’s 7 goals!)

The Brazilian currency, the Real, has depreciated by 37% in 2015. The Brazilian economy has contracted or stayed flat in five of the last seven quarters. It is now in recession with no immediate signs of reversal.

Read the entire article at The Globalist here.