Saturday, June 18, 2016

Two Months Before The Olympics Brazil's Rio State Declares A Financial Disaster

The announcement followed this week’s visit to the Olympic city of Rio de Janeiro by interim president Michel Temer, who said the federal government would ensure obligations are met. Photograph: Sergio Moraes/Reuters

The Guardian: Rio de Janeiro governor declares state of financial emergency ahead of Olympics

Emergency measures needed to avoid ‘a total collapse in public security, health, education, transport and environmental management’

Forty-nine days before the opening of the Olympics, the governor of Rio de Janeiro has declared a state of financial emergency and begged for federal support to avoid a “total collapse in public security, health, education, transport and environmental management”.

The plea for funds is an embarrassment for the host of South America’s first Games and adds to a long list of woes that includes the impeachment of the president, the deepest recession in decades, the biggest corruption scandal in memory, the Zika epidemic and a wave of strikes and occupations of government buildings.

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WNU Editor: Another example on what happens when governments lose control of their spending .... and run up a debt that cannot be paid.

More News On The Rio de Janeiro Governor Declaring A State Of Financial Emergency Ahead Of The Olympics

Brazil's Rio state declares financial disaster before Games (AP)
Financial calamity declared in Rio weeks before Olympics, but Games will go on -- Washington Post
Rio government declares 'public calamity' over finances ahead of Olympics -- USA Today
Rio State Declares Financial Emergency Ahead of Olympics, Requests Funding -- Sputnik
Rio declares financial emergency, requests funding for Olympics -- Reuters

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