Not All Samba

Brazil won hosting rights to the World Cup in 2007 under the Presidency Luiz Inacio Lula da Silva. Current President Dilma Rousseff says that this will be the “Cup of all Cups”. For many it’s only natural for Brazil to host the Cup. After all, Brazil is acknowledged as the spiritual home of football. Some say it represents the gold standard of football – combining beauty and impact. But while on the surface it does seem like there are potential gains for national pride, for personal political mileage from hosting such global sporting events, is there a downside? Are the promised gains from this UDS11.5 billion going to be realized? Moody's Investors Service, the credit rating agency, argues that new infrastructure spending associated with the event is small for the $2 trillion economy, and benefits to businesses will be fleeting. Has the Brazillian government been able to get the buy in from citizens? Is the violence in June last year during the Confederations Cup evidence of dissatisfaction with the high level of government spending? Brazil can expect intense scrutiny during the Cup – is it ready?