What Happened: Tens of thousands of people protested May 15 against a proposed spending freeze at Brazilian public universities, as well as a planned pension reform, Folha reported.
Why It Matters: The protests threaten to derail the pension reform if they grow in size or become disruptive. If Brazilian lawmakers fail to approve the plan, it would create greater uncertainty among bondholders and investors on the financial stability of the Brazilian government.
Background: Although the Brazilian government is attempting to approve the long-planned pension reform, fragmentation in Congress threatens to undermine the bill.
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