The current political crisis surrounding Brazil has left fellow Mercosur members into a state of alert. On the previous year, President #Dilma Rousseff was impeached from power due to crimes committed against the republic. Yet, in 2016, former #President Lula was accused of money laundry and a process against the former president was opened.

2017 has come, under the government of President #Michel Temer, but the scenario has not changed much. The economic scenario of the country continues to be affected by the shaky political situation in the country. Inflation continues to spread through the land, and foreign investors' fear of investing in a "country of nobody," as Brazil is called by its own citizens, continues to arise.

Advertisements
Advertisements

On the past few months, the situation has been aggravated as President Michel Temer is now the third consecutive president to be accused of crimes against the Republic and his stay at the capital will be voted in a few weeks. However, the shaking news of the moment was the sentence awarded to former President Lula and the blockage of his financial resources.

Another development on the Lula case

BrasilPrev, part of the Bank of Brazil, told federal judge Sérgio Moro on Thursday that it had blocked the amount of 9 million reais from former president Luiz Inácio Lula da Silva (Lula). Part of the amount, R$7,190,963, related to a business plan of LILS (sub company of the political party PT, devoted to lectures of the party) and another, R$1,848,331, refer to an individual account. According to the bank's representative, all financial resources of the former president will continue frozen until second notice.

Advertisements

The amounts were calculated by BrasilPrev until July 19.

Judge Sérgio Moro considered a national hero

In 2016, Sérgio Moro has found the highlight of his career as he conducted the process of impeachment against the president in power, Dilma Rousseff. He keeps making the news ever since, and many Brazilians take him as a national hero and a great name for the next presidential elections of 2018.

Today, once again, the name of Moro hit the news as he was responsible for the financial lock determined on July 14, two days after the conviction of the former president, to nine years and six months in prison for passive corruption and money laundering. On Wednesday, the Central Bank informed the judge about the blocking of R$606 thousand in four Lula accounts. The political situation of Brazil continues to navigate into trouble waters, as other important names of the government are being tied to the money laundering process (Operação Lava Jato) that initiated what can be considered the greatest upset in the country's politics.