MercoPress. South Atlantic News Agency
Venezuela 'ripe' for default on foreign debt forecast Reinhart and Rogoff
Venezuela will almost certainly default on its foreign debt, according to Harvard economists Carmen Reinhart and Kenneth Rogoff. They add that the beleaguered Latin American economy has already defaulted on “every conceivable kind of domestic debt”. Read full article
Comments
Disclaimer & comment rulesWhat will happen when they Default?
Oct 16th, 2014 - 08:03 am - Link - Report abuse 0Will creditors just have to walk away?
1 Troy Tempest
Oct 16th, 2014 - 09:15 am - Link - Report abuse 0The debt is only about 80 billion, but the world banking system is in a weak state at the moment. The creditors may not cope so well. As for Venezuela it will be a nightmare for the people, looting, killings, hunger to name a few.
Might spell the end for PetroCarribe. Good news for us.
Oct 16th, 2014 - 10:06 am - Link - Report abuse 0Oil prices are down...way down...VeneCuba shouldn't last more than a week.
Oct 16th, 2014 - 11:21 am - Link - Report abuse 0Living in these hell holes such as Venezuela and TDC must be like Hell on Earth to those who did not vote for the madmen now running the madhouse.
Oct 16th, 2014 - 12:04 pm - Link - Report abuse 0It will all end badly, that's for sure.
Hey Ilsen looks like your 30k investment is up the creek....
Oct 16th, 2014 - 12:26 pm - Link - Report abuse 0I'll give you 3 grand for it cash...whadaya say...?
But why should they pay ??
Oct 16th, 2014 - 12:43 pm - Link - Report abuse 0Argentina aint paying,
perhaps they will follow CFK and drag this out for years,
after all debt is debt.
6 Voice
Oct 16th, 2014 - 02:43 pm - Link - Report abuse 0Is that what you call “ commenting on a post”?
Hardly a funny subject.
Very grim for the people there.
Hypocrit. Troll.
8
Oct 16th, 2014 - 03:29 pm - Link - Report abuse 0It was a fair offer....not an attack....see any name calling..?
...and what has it to do with you...?
are you Ilsen too..?
If it is impossible to do business and its so insecure you might as well live in a Kibutz model in Venezuela with your own community policing the estate and your own production to be socialized it be better off if you “socialize” it and share it with the folk you know and not with the big dictator government. Pick your own currency
Oct 16th, 2014 - 03:49 pm - Link - Report abuse 09 hypocrit
Oct 16th, 2014 - 04:00 pm - Link - Report abuse 0It was a taunt, and you know it.
If you are going to attack people gratuitously - have the balls to admit it.
Caught you, red-handed.
eww!
All this oil! It will not be lomg before they do not have the cash to send their oil to the USA to refine for gas. This is like someone with an assload of gold going bankrupt.
Oct 16th, 2014 - 04:38 pm - Link - Report abuse 0The falling oil price per barrel will not stop anytime soon. The Saudi's and Kuwaiti's are on a roll to control market share from the Russia, Iran, and indirectly North America.
Oct 16th, 2014 - 06:02 pm - Link - Report abuse 0Venezuela, with it's proven oil reserves, is just an example of a mismanaged, and failed state, governed by a paranoid dictator in need of a long vacation in Havana.
Instead of being a responsible OPEC leader, the Maduro gang are sitting below deck in despair, on a rudderless boat in a storm
As I stated in another post, it is a specific strategy of the Saudi's and most of OPEC to drop the prices to make fracking unaffordable again. But that technology changed a bit and the cost is dropping. I expected the 3 a gallon to hit by year end a few weeks ago but it may hit that benchmark by month end.
Oct 16th, 2014 - 06:47 pm - Link - Report abuse 0I see no future in fracking in Argentina now. The dead cow is just that....dead.
Back comes the 12 miles per gallon Yankee truck ...pulling the huge trailer (caravan) with two fireplaces and the Harley Fatboy stuck on the back of that, that one of my relatives used to tow between Panama City Florida and Pennsylvania on a regular basis...
Oct 16th, 2014 - 07:04 pm - Link - Report abuse 0They never left, where have you been?
Oct 16th, 2014 - 07:46 pm - Link - Report abuse 0Ola Capt. Poppy-
Oct 16th, 2014 - 09:17 pm - Link - Report abuse 0I read online that the $ 3.00 USD gallon of gasoline (regular/lite) has been achieved in the State of Arizona this week.
Here unfortunately, the price of vehicle fuel increasing in cost.
Ola. Botinho...where are from....it eludes me. Brazil?
Oct 16th, 2014 - 10:50 pm - Link - Report abuse 0Come off it Pops...yeah they still had the trucks, but when the price of fuel shot up did you notice all the big trucks for sale and all the boats that folk were getting rid off...
Oct 16th, 2014 - 11:06 pm - Link - Report abuse 0Couldn't drive down the highway without seeing all the for sale signs everywhere.
Folk were finally realising you don't actually need a 6.2 litre V8 RAM capable of pulling 10400 pounds....to carry your gun rack and the odd deer in shooting season...
Maybe where you are. Tahoes...Esplanades and Navigators roam the roads largely where I live. I think you google the US too much. And....I didn't sell my boat.
Oct 17th, 2014 - 12:11 am - Link - Report abuse 0Google..??...so what are you trying to say Pops that I don't have a place in Rednecksville surrounded by Rednecks with Big trucks and even bigger gun boxes in the said trucks..???
Oct 17th, 2014 - 12:22 am - Link - Report abuse 0You may not have sold your boat..but I bet you know plenty that did....it was the first thing to go...
Poppy,
Oct 17th, 2014 - 12:48 am - Link - Report abuse 0Voice may not have a truck OR a boat, but he sure fishing with a lot of bait!
His lure is a bit too obvious.
Swim on by...
You're.......the Pats are playing and I can only manage the first half. My mornings start at 430.
Oct 17th, 2014 - 01:05 am - Link - Report abuse 0Looks like the default is going to happen because Maduro is to stupid to stop it.
Oct 18th, 2014 - 01:47 pm - Link - Report abuse 0http://www.economist.com/news/finance-and-economics/21623753-will-next-country-stiff-bondholders-be-ukraine-or-venezuela-empty-vaults?fsrc=scn/fb/wl/pe/emptyvaults
More pain and misery for Venezuela directly due to the utter incompetence of the current administration.
Sad.
Very sad
Oct 18th, 2014 - 04:22 pm - Link - Report abuse 0odd that this is the fifth most viewed article on Mercopress, yet has only garnered 25 comments...
Oct 20th, 2014 - 07:47 pm - Link - Report abuse 0Most likely because most likely most realize that Venezuela is like a mastodon that is up to it's hinds in the La Brea tar pits and they is not getting out.
Oct 20th, 2014 - 08:30 pm - Link - Report abuse 0Morbid curiosity on the part of UK/ US etc. posters, and the populist Trolls are running scared sh!tless from the subject
Oct 20th, 2014 - 09:29 pm - Link - Report abuse 0Commenting for this story is now closed.
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