Defusing the Time Bomb

Defusing the Time Bomb

Economy & Policy

Lula achieved a political victory, but public opposition to his pension reform remains explosive. For years, Brazil's state-run social security system was a ticking time bomb that nobody seemed able to defuse. Governments came and went, and apart from a little tinkering here and there, they did nothing to stop the system's gargantuan deficits. Political opposition was just too great, particularly from public employees - who stood to lose the most - and the Workers Party. Once the party's leader, Luiz InĂ¡cio Lula da Silva, became pr

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial