Venezuelan crisis reaches boiling point

published 2 May 2019

An attempt to topple the regime led by Nicols Maduro seems to have stalled, say John Paul Rathbone and Gideon Long in the Financial Times. The move began with a call to arms by Venezuela's key opposition figures, Juan Guaid and Leopoldo Lpez, made from outside a military base near the capital. This raised hopes that the military and security forces would support Guaid, who is backedby more than 50 countries. Shortly afterwards, Lpez hadto take refuge in the Spanish embassy; security forces blocked Guaid from marching on the presidential palace.

But it's too early to write off Guaid, says Nicholas Casey in The New York Times. Maduro is still in office for now, but "many rank-and-file soldiers appear willing to defy their commanders and come to the aid of the opposition". Despite pledging their loyalty to Maduro, it was "telling" that the armed forces did not arrest Guaid, presumably fearing "a backlash for detaining the popular leaders". The most likely scenario now is "a revived but protracted struggle between Maduro and Guaid, with an unclear outcome".

There is "deep uncertainty" about what will happen next, but "the political and moral essence of this volatile situation" is clear, says The Washington Post.The regime has "violated human rights on a massive scale" and "led Venezuela into economic catastrophe". Maduro "forfeited democratic legitimacy" when he stripped the national assembly of its power in 2016 and then "engineered his re-election through a flawed process".The uprising is an effort by Venezuelans "to throw off an oppressive, toxic regime sothat they can freely elect a legitimate government".

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Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.

He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.

Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.

As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.

Follow Matthew on Twitter: @DrMatthewPartri

Venezuelan crisis reaches boiling point

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