Venezuela could face a full-fledged civil war if military support for dictator Nicolas Maduro erodes.
Venezuelan authorities arrested seven men over the weekend whom they claimed took part in an attack on a military base outside of Valencia, the country’s third-largest city. The strike took place after a video made the rounds on social media Sunday featuring men in military fatigues calling for a rebellion against Maduro.
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Militares de la 41 Brigada Blindada de Naguanagua en Carabobo (Venezuela) se alzan contra el Gobierno de Nicolás Maduro pic.twitter.com/b0b2yjIQOt
— 24h (@24h_tve) August 6, 2017
“The significance lies in whether this suggests that Maduro is losing his grip on the military and whether we can expect to see more mutinies to come, or if this is just an isolated incident,” Stuart Culverhouse, global head of macro and fixed income research at Exotix Capital, said in an email.