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Venezuela bondholders inch toward showdown

Friday, June 30, 2017

John Bolton: Instability from Venezuela Could Spread Throughout the Region

Marlow moved on to the deteriorating situation in Venezuela, where Bolton said democracy has “failed over a sustained period of time, and particularly in the last 15 years since the coup that brought Hugo Chavez to power.” “He’s now died, his former foreign minister Maduro is now president,” he noted. “It’s an authoritarian system. Largely the military is in control because the economy has tanked. The oil industry hasn’t had serious capital investment or improvement for a long time, so it’s decreasing revenue.”“I’m very worried about Venezuela,” Bolton professed. “I’m worried that the instability there will spread as it has to Colombia before, and it’s a source of real potential problems for the United States.” More…

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