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Venezuela bondholders inch toward showdown

Wednesday, June 14, 2017

Venezuela’s slide into chaos is splintering the Chávez movement

For more than a dozen years, Hugo Chávez led a socialist-inspired movement that transformed Venezuela, winning one presidential election after another with the support of an army of red-shirted “chavistas.” But four years after Chávez’s death, the movement he founded is splintering, with current and former government officials, as well as residents of poor neighborhoods that were once adamantly pro-government, turning on his successor, Nicolás Maduro. The criticism from Maduro’sformer allies has helped to energize a protest movement that has drawn demonstrators onto the streets almost every day for two months. The participants are angry at what they call Maduro’s increasingly authoritarian rule and a severe economic crisis. Polls indicate some 80 percent of the population wants him to resign. More…

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