Why Venezuela Isn't on the Verge
Bloomberg Businessweek|September 26 - October 2, 2016

Despite massive protests and growing economic desperation, the Maduro government hasn’t lost power.

Ethan Bronner and Andrew Rosati
Why Venezuela Isn't on the Verge

The judge is shaking. Never mind that she’s sitting in her office dressed with the tasteful elegance of a jurist, a large painting of Venezuela’s national hero, Simón Bolívar, on one wall, water colors on another. She’s just returned from an event at the Supreme Court, which should be a monument to the objective application of law. But the gathering was a political rally with singing and dancing and a fervently applauded speech about the need to emasculate the nation’s legislative body—the single institution not in the hands of the ruling socialist party.

“I don’t know how my colleagues live with themselves,” she says, her hands trembling as she removes her eyeglasses, rubs her temples, and then shuffles some papers. “Government ministers and military officers go freely up to the constitutional chamber,” she says, where high court justices hear the most important cases. The president hasn’t lost one in years. After the opposition sat three lawmakers whose election was disputed, the court declared the legislature essentially illegitimate.

From a distance, Venezuela, with its crashing oil prices and alarming shortages, appears on the brink of political upheaval. Almost 1 million people marched in Caracas on Sept. 1 to pressure President Nicolás Maduro into allowing a referendum for his recall. The overturning of leftist populism— sweeping across commodity dependent South America from Argentina to Brazil to Peru—seems on its way here, the country where the movement had its most elaborate flowering.

This story is from the September 26 - October 2, 2016 edition of Bloomberg Businessweek.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the September 26 - October 2, 2016 edition of Bloomberg Businessweek.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM BLOOMBERG BUSINESSWEEKView All
Instagram's Founders Say It's Time for a New Social App
Bloomberg Businessweek US

Instagram's Founders Say It's Time for a New Social App

The rise of AI and the fall of Twitter could create opportunities for upstarts

time-read
4 mins  |
March 13, 2023
Running in Circles
Bloomberg Businessweek US

Running in Circles

A subscription running shoe program aims to fight footwear waste

time-read
3 mins  |
March 20 - 27, 2023
What I Learned Working at a Hawaiien Mega-Resort
Bloomberg Businessweek US

What I Learned Working at a Hawaiien Mega-Resort

Nine wild secrets from the staff at Turtle Bay, who have to manage everyone from haughty honeymooners to go-go-dancing golfers.

time-read
10 mins  |
March 20 - 27, 2023
How Noma Will Blossom In Kyoto
Bloomberg Businessweek US

How Noma Will Blossom In Kyoto

The best restaurant in the world just began its second pop-up in Japan. Here's what's cooking

time-read
3 mins  |
March 20 - 27, 2023
The Last-Mover Problem
Bloomberg Businessweek US

The Last-Mover Problem

A startup called Sennder is trying to bring an extremely tech-resistant industry into the age of apps

time-read
10+ mins  |
March 20 - 27, 2023
Tick Tock, TikTok
Bloomberg Businessweek US

Tick Tock, TikTok

The US thinks the Chinese-owned social media app is a major national security risk. TikTok is running out of ways to avoid a ban

time-read
10+ mins  |
March 20 - 27, 2023
Cleaner Clothing Dye, Made From Bacteria
Bloomberg Businessweek US

Cleaner Clothing Dye, Made From Bacteria

A UK company produces colors with less water than conventional methods and no toxic chemicals

time-read
3 mins  |
March 20 - 27, 2023
Pumping Heat in Hamburg
Bloomberg Businessweek US

Pumping Heat in Hamburg

The German port city plans to store hot water underground and bring it up to heat homes in the winter

time-read
3 mins  |
March 20 - 27, 2023
Sustainability: Calamari's Climate Edge
Bloomberg Businessweek US

Sustainability: Calamari's Climate Edge

Squid's ability to flourish in warmer waters makes it fitting for a diet for the changing environment

time-read
4 mins  |
March 20 - 27, 2023
New Money, New Problems
Bloomberg Businessweek US

New Money, New Problems

In Naples, an influx of wealthy is displacing out-of-towners lower-income workers

time-read
4 mins  |
March 20 - 27, 2023