--Political Weakness Leading to Abandonment of Reformist Policies
--Finance Minister's Days May be Numbered
SAO PAULO (MNI) - Brazil's economic and political crisis has picked up
steam in recent months, but has accelerated in recent weeks, and threatens to
become even worse, with more ratings downgrades likely and possibly key
officials falling victim to the downturn.
Markets have plunged in recent days, with the real breaking 3.80 against
the dollar in Thursday morning trading in Sao Paulo, and local analysts say they
probably have not hit bottom yet.
"We haven't yet seen large scale capital flight or a currency crisis, but
we might if the current situation continues," Luciano Rostagno, chief economist
for Banco Mizuho's Brazil unit, told MNI Thursday.