Maduro's Euro trip a success

[Judi Lynn]

Maduro's Euro trip a success
Friday 21 June 2013
by John Haylett

Venezuelan President Nicolas Maduro is back home this weekend after a successful visit to Europe that frustrated opposition attempts to question his authenticity.

Maduro's first stop was Rome where he accepted a UN Food and Agriculture Organisation (FAO) award on behalf of his country as one of 18 to have made exceptional progress in reducing malnutrition levels.

FAO director-general Jose Graziano da Silva congratulated Venezuela for meeting both the millennium development target of halving the proportion of undernourished people and the World Summit goal of halving the absolute total.

Other countries commended included Cuba, Guyana, Kuwait, Nicaragua and Peru.

"These countries are leading the way to a better future.

"They are proof that with strong political will, co-ordination and co-operation, it is possible to achieve rapid and lasting reductions in hunger," said da Silva.

More:
http://www.morningstaronline.co.uk/news/content/view/full/134518

[Socialistlemur]

1. Recapping

Went to Italy and got a FAO award given while there are food shortages in Venezuela. Met the Pope and used most of his 20 minutes to introduce 10 members of his huge traveling party. Then met with ENI to see how that company's investments in the Venezuelan oil industry were doing (not so well). Flew to France and signed a series of meaningless agreements. The French are just trying to protect Total's investment in Venezuela's oil fields (total owns a share of a fairly large one in the Orinoco oil belt). Prior to the trip to Italy stopped in Portugal. The Portuguese are worried because Venezuela isn't paying its bills to Portuguese corporations.

The article also claims falsely the food shortages are caused by hoarding, and mentioned the arrival of 760 thousand tons of food to Venezuelan ports next week. It fails to mention the lack of foreign currency needed by private business to import materials they need to manufacture locally. The USD is now worth 31 bolivars in the black market...versus 6.3 official.

But the article does mention there will be a renewed effort by the government to clamp down and make sure price controls are respected. This of course will lead to more shortages because inflation, running at nearly 40 % per anum makes it impossible to make a profit.

The solution, of course, is to devalue to at least 10 bolivars per dollar and accept their brand of "socialism" is a failure. Time will tell if they face this truth.