Brazilian President Dilma Rousseff was removed from office through a well-organized, carefully planned operation among the corrupt Brazilian political elite, closely linked to the stock-market, financial institutions and foreign energy companies. This ‘legislative coup d’état ’eliminated the democratically-elected ‘political intermediaries’ and installed a regime directly controlled by the CEOs of leading multi-nationals.
Pundits and commentators on the Left and Right are pronouncing ‘the end of the progressive cycle in Latin America’. They cite the recent presidential elections:
1. Argentina, where hard-right Mauricio Macri was elected;
2. Brazil, where President Dilma Rousseff has appointed a neo-liberal ‘Chicago Boy’ economist, Joaquin Levy, as Finance Minister and launched an IMF-style regressive structural adjustment policy designed to reduce social expenditures and attract financial speculators; and
The post neo-liberal regimes which flourished in five Latin American countries in the first decade of the 21st century were a product of three inter-related historical processes.
