Getúlio Vargas Constitution that was supposed to be transitional pending new elections, Vargas assumed legislative as well as executive powers. Also, under the 1937 Constitution Vargas should have remained President for only six more years (until November 1943), but instead stayed in office until 1945. For all intents and purposes, Vargas ruled for eight years under what amounted to martial law. Vargas employed ambiguous policies towards Axis and Allied orbits. At first, Brazil seemed to be entering the Axis orbit — even before the 1937 declaration of the Estado Novo. Between 1933 and 1938, Germany became the main market for Brazilian cotton,
Victor Vargas and Chairman. In 2014, Vargas and BOD partnered with American Express to provide a new credit product for microentrepreneurs. Microentrepreneurs provide for 15 percent of the Venezuelan economy. Vargas and BOD’s goal was to expand the American Express card to 300,000 cardholders with access to 46,000 businesses by 2013. The card would offer a 4-year rotating term financing option. In 2010, overall profitability on bank assets in Venezuela fell to 9.7 percent from 20.5 percent in 2009. Venezuelan bankers were concerned that the Venezuelan Central Bank had not changed commission tariffs in over five years. Vargas served as the leader