Over on Project Syndicate, Ricardo Hausmann and Miguel Angel Santos have a fun riff on the state of the debate on whether Venezuela will go into default in the coming months.
Because, viéndolo bien, Venezuela is already in default with regard to a huge range of obligations.
Cancer patients? Check. Food importers? Check. Car-makers, airlines, PDVSA suppliers? Check, check, check. Bolivar holders? You got it. People who wanna know the inflation rate? Yup. Anyone who owns a finger print? Um hm.
That’s pretty much everyone.
Well, not quite everyone.
The one hold-out?
That’s more or less the one constituency Bolivarian Socialism is still upholding its commitments to.