How could Brazil's political crisis affect the rest of Latin America?

Brazilian President Dilma Rousseff takes part in the meeting of the Economic and Social Development Council, at Planalto Palace, in Brasilia, on February 27, 2013. Today, Congress voted to move forward on impeachment charges.

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Latin America's largest economy and most populous country reached a new level in its political crisis – and it comes at a critical time, just month's before playing host to the Olympics.

Latin America's largest economy and most populous country reached a new level in its political crisis – and it comes at a critical time, just month's before playing host to the Olympics. Brazil's Congress voted earlier this morning to move forward with the impeachment of its President Dilma Rousseff.

The crisis could have broad implications for the rest of Latin America – and even the US, key trade ally.

"This is happening in the context of a broader [years-long] corruption scandal," said Shannon O'Neil, senior fellow for Latin America Studies at the Council on Foreign Relations. "So it's really hitting the whole elite class in Brazil."