Venezuela's Legislative Super Body Grabs Congress's Powers
- Consituent assembly approved decree empowering it to pass laws
- National Assembly only opposition-led institution in Venezuela
Venezuela has more oil than anywhere on Earth, and yet it can't provide basic food and services to its citizens. Bloomberg QuickTake examines how Venezuela's poor economy and increasingly authoritarian leader have made it into Latin America's powder keg. (video by Henry Baker) (Source: Bloomberg)
Venezuela’s new legislative super body took over the functions of the country’s only remaining opposition-run institution -- the National Assembly -- by approving a decree that empowers it to pass laws on a range of issues.
The 545-delegate so-called constituent assembly, or “constituyente,” packed with ruling socialist party loyalists, unanimously passed a “coexistence” decree, enabling it to create laws on everything from national security, economic policy and the South American nation’s finances. Delcy Rodriguez, president of the constituyente, promised the measure would bring peace to nation wracked by months of bloody protests and deep recession.