This will have more political rather than economic ramifications.
Vitali Meschoulam
It's a concern, second terms never turn out how they are sold. He brings perception of safety, but can he push through what he has promised on the economic front?
perception safety concern
Now, Chavez and his backers can do what they want. Congress used to serve as a check, and that's not going to be the case.
serve congress
The opposition is not outside the process. They can't influence the process. The government, however, now has no one to blame for its policies.
opposition government process influence blame
The opposition tried to de-legitimize the vote.
opposition vote
political
This is part of the give and take that we've seen in the past few months. The timing is a bit complicated for Washington as it comes when the U.S. Is trying to figure out what to do with Iran.
past timing iran part complicated washington give
Whilst the [bond] purchases are good news for the Argentine government, the benefits for Venezuela are less clear.
benefits government good news
Needless to say, a victory of the most left-leaning factions of the party would be a significant defeat for Lula.
victory defeat party
The market was probably expecting Lula to make a stronger statement, not just a simple apology. This speech will hardly calm down the opposition.
opposition speech market simple apology calm
The market is more exuberant, spreads are at ridiculous levels but nobody cares because there is too much money and fundamental news continue to be very positive. That will remain in the short term.
money positive news market ridiculous short
You must log in to post a comment.
There are no comments yet.