The plan attempted to reduce the money supply by forcibly converting large portions of consumer bank accounts into non-cashable government bonds, while at the same time increasing the printing of money bills, a counterbalancing measure to combat hyper-inflation. He studied economics at the university level before working as a journalist. The country’s economic decline, fueled by a staggering foreign debt and hyperinflation, failed to improve. Collor has served as Senator for Alagoas since February 2007. Please refer to the appropriate style manual or other sources if you have any questions. The report concluded that there was proof that Fernando Collor had had personal expenses paid for by money raised by Paulo César Farias through his influence peddling scheme. "It was a thirsty and gluttonous way of using power," said Renan Calheiros, a leader of the "bandits," the term he himself coined for the group that robbed the country along with Fer- nando Collor. Promising to promote economic growth and combat corruption and inefficiency, Collor de Mello defeated the leftist Our editors will review what you’ve submitted and determine whether to revise the article. Some weeks later, with the investigation progressing and under fire, Collor asked on national television for the people's support in going out in the street and protesting against "coup" forces. Their faces, often painted in a mixture of the colors of the flag and protest-black, lead to them being called "Caras-pintadas" ("Painted Faces").[17]. Fernando Collor de Mello was elected president of Brazil on December 15, 1989, and inaugurated on March 15, 1990. The Senate's formal written sentence on the impeachment trial, containing its conviction of the former president and disqualification from public office for eight years, signed by the president of the Supreme Court and by the Senators on December 30, 1992, was published in the Diário Oficial da União (the Brazilian Federal Government's official journal) on December 31, 1992.[19]. A former journalist and media entrepreneur, Collor was the first popularly-elected president of Brazil since 1960, and, at age 40, that republic's youngest chief executive ever. Fernando Afonso Collor de Mello was born in the family of an Alagoas politician, Arnon Afonso de Farias Melo, who was governor of this state in 1951-1956. HACKED SEU SITE FOI COLLORIDO We are: V1b3w, Phys1c, xTeSg_. The Federal Police and the Federal Prosecution Service opened an investigation. DEVOLVE A POUPANÇA DO MEU AVÔ Leiam Democracia: O Deus que Falhou Encyclopaedia Britannica's editors oversee subject areas in which they have extensive knowledge, whether from years of experience gained by working on that content or via study for an advanced degree.... Be on the lookout for your Britannica newsletter to get trusted stories delivered right to your inbox. The act is recognized as an attempt to sabotage Lula's chances of victory[4] by associating the kidnapping with the left wing. He became the youngest president in Brazilian history, taking office at the age of 40. Although Zélia acknowledged later that the Plano Collor didn't end inflation, she also stated: "It is also possible to see with clarity that, under very difficult conditions, we promoted the balancing of the national debt – and that, together with the commercial opening, it created the basis for the implementation of the Plano Real."[7]. While every effort has been made to follow citation style rules, there may be some discrepancies. Fernando Collor was born into a political family. Collor là … Collor's resignation letter was read by his attorney in the floor of the Senate, and the impeachment trial was adjourned so that the Congress could meet in joint session, first to take formal notice of the resignation and proclaim the office of president vacant, and then to swear in Franco. As a result, a petition to the Chamber of Deputies by citizens Barbosa Lima Sobrinho and Marcelo Lavenère Machado, respectively the then President of the Brazilian Press Association and the then-president of the Brazilian Bar Association formally accused Collor of crimes of responsibility (the Brazilian equivalent of "high crimes and misdemeanors", such as abuse of power) warranting removal from office per the constitutional and legal norms for impeachment. 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