Brazil's Options Narrow As UN Votes On Global Bankruptcy Measure

As the United Nations made incremental progress towards creating an organized process for sovereign bankruptcy Thursday, the whisper question is currently will Brazil be the next Greece? Brazil deteriorating and in some respects looks like Puerto Rico except without the wealthy uncle Brazil’s fiscal situation has been deteriorating over the past three to four quarters, noted Societe General’s Latin America analyst Dev Ashish in a note titled “Brazil: public debt rapidly rising to uncomfortable levels.” Ashish “continues to see downside risks” to his previously negative forecast as the situation “has worsened amid the country’s contracting economy and the political and…