GPI Global Policy Institute

When will Venezuela’s unfolding drama come to an end?

On February 27, the Global Policy Institute held a panel discussion on: “Venezuela in Crisis: What Happens Next?” The panelists, all of them recognized Latin America and Venezuela experts, included: Peter Schechter, Founder and Co-host, Altamar, Former Senior VP, Atlantic Council; Gustavo Coronel, Former Board Member, Petróleos de Venezuela, S.A. (PDVSA);  Moises Rendon, Assoc. Director & Assoc. Fellow, CSIS, Americas Program. The Moderator was Dr. Mark Meirowitz, Assoc. Prof, SUNY Maritime College, and Fellow, Global Policy Institute.

Paolo von Schirach, President, Global Policy Institute, delivered opening remarks.

The Venezuela festering political and economic drama recently became also a constitutional crisis. A majority of Latin American countries, now flanked by the US, Canada and most of Europe, do not recognize the legitimacy of Maduro’s recent re-election as President of Venezuela, while they recognize Juan Guaido’, the Speaker of the Parliament, as the legitimate interim President, until new and fair elections can be called.

The panelists agreed that Maduro’s days are numbered; but they could not clearly predict how he will be ousted. A combination of a rapidly deteriorating domestic situation, increased international pressure, via heavy economic sanctions (including the vital oil sector) and other political moves, eventually will suffocate the regime. They also pointed out the critical role of large numbers of Cuban military and intelligence officers currently deployed in Venezuela in propping up the Maduro regime. All panelists agreed that –while the possibility exists—it would be a mistake for the United States to stage any type of military intervention in Venezuela, even if limited to protect humanitarian aid shipments.

Watch the full video here.

Watch the short video here.