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Venezuela bondholders inch toward showdown

Tuesday, June 27, 2017

What the Follow the Money Principle Tells Us about the Crisis in Venezuela

The reason for this defiant attitude is to be found in the money trail. Illict trade earnings represent such benefits to the Venezuelan government officials that they would rather act as an overt rogue state than surrender a flow of money that truly is the newfound El Dorado for them and their families. They also know that there are enough financial institutions in the world ready to do business with any kind of nation and that once they change the institutional famework, it can be claimed that Venezuela's decisions are legal. More…

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