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It's not that easy. Venezuela was blocked from access to the financial market by an US-american Hedgefond together with a private court in the aftermatch of the
by onli 10y ago
It's not that easy. Venezuela was blocked from access to the financial market by an US-american Hedgefond together with a private court in the aftermatch of the 2008 crash. Add to that the failing oil price. While Venezuela strived to be a socialist country before, part of what happened later was pure necessity.
- ethbro 10y ago> Venezuela was blocked from access to the financial market by an US-american Hedgefond together with a private court in the aftermatch of the 2008 crash. Citation?
- rafaelm 10y agoI really haven't read anything about that. In fact, Venezuela has been issuing debt bonds without any blocks. Are you sure you are talking about Venezuela?
- onli 10y agoOh. That's embarrassing, I think I mixed it up with the situation in Argentina. Venezuela did have problems to access the financial market and it does explain some recent anti-capitalist measures, but that was not directly related to an earlier hedge fond ruling as I was convinced, it was a more simple case of not paying because of having too much debt. It it related to the argentinian situation, but not the same. Source: https://www.weforum.org/agenda/2016/10/restructuring-venezuelan-debt-navigating-new-rules https://www.weforum.org/agenda/2016/10/restructuring-venezue... I wonder whether there was an earlier situation like that for Venezuela that got resolved beforehand, which would explain why I remember differently, but I found no source for that. Maybe the ISDS rulings against it. I'd delete the comment above if I could.
- Lazare 10y agoThat's absurdly wrong. I think you may be thinking of Argentina? (Not that you're describing events in Argentina correctly either, but at least some of the bits are right.)