Over in Venezuela, while the cat was away the mice had nothing to dance about:
The discontent has spread to unions representing hundreds of thousands of state workers. The National Federation of Public Sector Workers, which represents administrative workers and teachers, this month publicly criticized the government for delaying contract renewals. Some of them expired as long as 10 years ago, leaving workers with devalued salaries.
The central bank’s international reserves meanwhile are down 29% to $21 billion since the start of 2013.
Francisco Toro writes about The Routinization of Barbarism:
Secret public spending is fundamentally unacceptable. Public spending not approved by a legislature is by its nature unconstitutional. The routinization of secret public spending is an outrage no minimally law govern country would yield an inch to, even by implication.
Small wonder that The Economist refers to Venezuela as Probably the world’s worst-managed economy.