2nd LD Writethru: Brazil's top deputy greenlights impeachment proceedings against President Rousseff

The President of Brazil's Chamber of Deputies Wednesday authorized impeachment proceedings against President Dilma Rousseff.

Eduardo Cunha said he approved a petition presented by lawyers Helio Bicudo and Miguel Reale Junior, citing that the president failed in her fiscal responsibilities, and created a special commission to pursue impeachment proceedings, according to local daily O Globo.

Cunha made the announcement shortly after the ruling Workers' Party (PT) in the lower house announced it would vote in favor of prosecuting Cunha for illicit enrichment.

Cunha, who is also head of the Brazilian Democratic Movement Party (PMDB), has been accused of squirreling away millions of U.S. dollars in secret Swiss bank accounts. The money is believed to have been diverted from state oil giant Petrobras.

At a press conference later in the day, Rousseff said "there are no illegal actions" that can be attributed to her, dismissing the arguments in favor of impeachment as "inconsistent."

She also denied that she had considered instructing the PT to vote against prosecuting Cunha to get him to drop impeachment proceedings.

"I never accepted or agreed to any type of negotiation about the vote. We cannot let ... personal interests affect the democracy and stability of our country," Rousseff said.

Rousseff added she was confident of seeing through her presidential term.

The special impeachment commission is now expected to study the case against Rousseff and later submit its findings to a vote. If a majority of deputies decide there is enough evidence to justify a trial, then impeachment proceedings could begin.

Lawyers of ties with Rousseff's political opponents first presented their petition in October, claiming she resorted to illegal accounting practices.

Brazil's budget auditing agency (TCU) said earlier it uncovered irregularities in the transfer of funds from the National Treasury to state banks in 2014 to cover the cost of government social welfare programs.

The operation could be seen as state banks lending to the state, which Brazil's Law of Fiscal Responsibility prohibits.

Rousseff's administration dismissed that interpretation, saying the practice only occurred during brief lapses.

Cunha has denied having bank accounts abroad, but Swiss authorities recently found out he had four undeclared accounts with millions of dollars on them.

According to investigators, the money was used to pay for luxury items and services for Cunha, his wife and daughter. Endi