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Venezuela bondholders inch toward showdown

Tuesday, July 4, 2017

Venezuela's Maduro likely to clamp down harder

Maduro had to stop that, and his first step was to have the Supreme Court, which is packed with Chávez and Maduro appointees, strip the National Assembly of all its powers and take them for itself. This is what triggered the daily anti-government demonstrations that began in early April. The Supreme Court’s action was clearly unconstitutional, and after three days that also saw protests from members of his own party, Maduro ordered the judges to backtrack on their decree. But the protesters, with the bit between their teeth, stayed out in the street. Despite 70 dead in the past three months, they are still there today. So Maduro, desperate to sideline the National Assembly, then came up with the idea of rewriting the constitution. There was no referendum to test popular support for this idea, and the people in the "constituent assembly" are being chosen according to rules set by the Maduro government. More…

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