How Venezuela's Troubled Economy Turned Into Chaos And Why It'll Only Get Worse
It’s been a tragic two weeks in Venezuela. Six people have died at protests and a prominent opposition leader was arrested after student marches escalated into large opposition-led demonstrations. Fierce mudslinging between President Nicolas Maduro and his opponents, the killing of a local beauty queen at a protest on Wednesday and the expulsion of three American diplomats have made for dramatic headlines and prompted international media outlets to question whether the president’s days in power might be numbered.
Still, concern is growing that the situation may become prolonged and increasingly disruptive. Local blogs and social media—which have become a vital source of information as local television is providing little live coverage of the protests—contain reports of increasingly violent clashes between protesters and national guard troops. Demonstrations are also expanding from Caracas to encompass a greater swath of territory. Clashes in cities such as Barquismeto, Merida, San Cristobal and Valencia may make it more difficult for the government to control its use of force against protesters. “We expect the situation to remain very fluid with continued potential for violent confrontations over the weekend,” Credit Suisse analyst Casey Reckman said.
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