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 The decision by the Brazilian Socialist Party increases the
likelihood that the bulk of Silva's 22 million votes would go to
Neves, raising his chances of defeating Rousseff.
Silva, an anti-establishment figure who wanted to change Brazilian
politics by ending polarization between Neves and Rousseff's
parties, came third in Sunday's first-round vote. She is expected to
endorse Neves on Thursday.
Her backing is crucial for Neves, the market favorite running for
the Brazilian Social Democracy Party (PSDB). Neves won 33.6 percent
of the votes to Rousseff's 41.6 percent, a difference of 8 million
votes.
Silva surged in the polls in late August when she was thrust into
the race by the death of her running mate and original PSB
presidential candidate Eduardo Campos in a plane crash. But her
popularity was undercut by an aggressive media blitz by Rousseff
that linked her to Brazil's financial elite and questioned her
ability to govern without the backing of traditional parties.
"I have become the candidate of change," Neves said at the PSB's
headquarters in Brasilia, where he paid homage to the party's late
leader Campos. "His dreams are now my dreams. His commitments have
also become my commitments," Neves said.
PSB Senator Rodrigo Rollemberg said his party backed Neves because
alternation in power was needed in Brazil after the country
stagnated for the last four years under Rousseff.
Neves is also seeking endorsement by the influential family of
Campos, a former governor of the northeastern state of Pernambuco,
where some 2 million votes won by Marina are up for grabs.
"With the explicit support of Marina and the family of Eduardo
Campos, Neves can grow in poorer parts of Brazil like the Northeast
where Rousseff has a lot of votes due to her government's social
programs," said political scientist Carlos Melo of the Insper, a
leading Brazilian business school.
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Rousseff kicked off her campaign for the runoff on Wednesday with a
whistle-stop trip to Northeastern states to protect her bastion of
support from inroads by Neves, who is more popular in the
industrialized and agribusiness states of Brazil's south.
Her campaign is portraying a Neves government as one that will bring
recession, unemployment and income losses, citing the austerity
policies enacted by past administrations of her rival's party.
Investors do not see it that way. Brazilian stocks soared and the
currency strengthened early this week on the prospect that Neves
could defeat Rousseff, whose heavy-handed economic policies are
blamed for driving a once-booming economy into recession this year.
There was more bad news for Rousseff on Wednesday.
Inflation sped up to its highest rate in nearly three years, raising
the prospect of higher interest rates next year. Brazil also got
another debt downgrade warning by Moody's Investors Service.
(Reporting by Anthony Boadle; Editing by Lisa Shumaker)
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