Venezuela opposition leader urges fast action to oust president [View all]

[Zorro]

Source: Reuters

Venezuela's opposition must define within weeks its strategy for ending Nicolas Maduro's presidency given the OPEC nation's "monstrous" economic crisis, opposition leader Henrique Capriles believes.

Having won control of the National Assembly last month due to voter ire at Venezuela's punishing recession, the opposition coalition has vowed to find a constitutional mechanism to oust Hugo Chavez' successor in the first half of 2016.

Options for the multi-faction coalition include demanding his resignation, forcing a recall referendum as allowed half-way through his term, or reforming the constitution to trigger a new presidential election.

"We have to find a common position. The clock is ticking ... We can't wait longer than the first quarter," Capriles, a state governor who narrowly lost a 2013 presidential vote to Maduro, told Reuters in an interview late on Thursday.

Read more: http://news.yahoo.com/venezuela-opposition-leader-urges-fast-action-oust-president-140929811--business.html

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The Venezuelan economy's downward spiral will continue unless Maduro changes his policies, and there's every indication he plans to stay the course. It's a case of politics trumping reality, much like what is seen in supply-side embracing states like Kansas.