Brazil: The Falling Cruzeiro

Four months after Janio Quadros' abdication as President of Brazil, Latin America's largest nation is lurching along in a way that may turn dangerous. At first the question was whether Labor-Boss João ("Jango'') Goulart as President or Tancredo Neves, a financier-turned-politician, as Prime Minister would actually lead the country. In fact, neither does. Nobody does. In remote Brasilia, the fractious Parliament carries on politics as usual. The far left hopes to proceed from chaos to power. It is up to dedicated second-echelon technicians to slow inflation and keep the nation running.

Chief among the technicians is Finance Minister Walther Moreira...

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