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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.750

-14.5%

Dec 5 9:30 AM EST

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To: Steve Fancy who wrote (1009)	2/11/1998 9:19:00 PM
From: Steve Fancy	Read Replies (3) of 22640

Brazil leftists fail to halt pension reform vote Reuters, Wednesday, February 11, 1998 at 19:33 BRASILIA, Feb 11 (Reuters) - Brazil's supreme court rejected an attempt by left-wing political parties to block an important vote on the government's pension reform bill scheduled for later Wednesday, a court spokeswoman said. The 11 members of the Supreme Federal Tribunal voted 10-1 against a request by the opposition parties for an injunction to halt the vote, the spokeswoman said. The lower house of Congress was expected to vote Wednesday afternoon or evening on the social security reform bill. The reform would introduce minimum retirement ages and tie pensions to contributions, boosting the government's attempts to narrow a public sector deficit running at about five percent of gross domestic product. If approved by a three-fifths majority in the Chamber of Deputies without significant changes, the reform bill needs one more lower house vote before clearing Congress. william.schomberg@reuters.com)) Copyright 1998, Reuters News Service

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