It states: “A mishmash of indiscriminate subsidies, prices and exchange controls, social programs, expropriations and grand larceny by official [and] the collapse in the oil price has exposed the Bolivarian Revolution as a monumental swindle…[and leading to] the supply of medicines fallen to a fifth of their normal level. Many pills are unavailable; patients die as a result…food queues at government stores grow longer by the week…Violent crime is out of control.”
So let me ask, if a country was a de facto concentration camp for many of its citizens who had no opportunities of leaving it, and the guards of the camp had behaved like what has been described above, including the fact that petrol is given away at less that 1/300th of the price of milk; should it not be possible to bring the guards in front of the International Criminal Court, accused of economic crimes against humanity?
And, if knowing the conditions in the concentration camp, financiers had anyhow, because of ultra-high interest rates, given the guards even more resources to waste, and to later be repaid by the prisoners, could not these participations in the bleeding be declared as having no value by that same International Criminal Court?
The world no doubt needs a Sovereign Debt Restructuring Mechanism but, if that is going to help the citizen-prisoners of the world, which it primarily should do, it must begin by making clear the difference between bona-fide normal credits and borrowings and odious credits and borrowings.
