Venezuela: Bad Disease, Worse Cure

When 78-year-old President Rafael Caldero took office on Feb. 2, after the impeachment of market-reformer Carlos Andres Perez, Venezuela's economic outlook was not good. Caldero inherited a recession, the failure of the No.2 bank, a swooning currency, and 48% inflation. Since then, eight more banks, totaling 28% of the nation's deposits, have failed.

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