Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Venezuela opposition lines up to seek Maduro recall

Published 06/20/2016, 01:19 PM
Updated 06/20/2016, 01:31 PM
© Reuters. Graffiti depicting Venezuela's President Maduro is seen on a wall during Venezuela’s  CNE second phase of verifying signatures for a recall referendum against President Maduro in Caracas

By Sarah Dagher

CARACAS (Reuters) - Venezuelan opposition sympathizers lined up on Monday around the country to validate signatures as part of a painstaking process to request a recall referendum against President Nicolas Maduro, who is deeply unpopular due to the country's economic crisis.

The elections council has required that those who signed for a recall vote against the 53-year-old former bus driver return to polling stations to verify their signatures through fingerprint detection.

Adversaries of the ruling Socialist Party say the requirement is part of a broader effort by the election council to stall the referendum at the behest of Maduro.

"This is necessary because the political situation of the country is unsustainable, what we're living is horrible," said Jose Gomez, 45, a merchant, in a line of hundreds at one signature point in Caracas.

"I feel terrible seeing neighbors selling television sets or belongings to be able to give food to their children."

The recent slump in oil prices devastated the OPEC nation's socialist economic model, leading to snaking grocery lines, empty supermarket shelves and growing anger among the roughly 30 million residents.

Maduro, elected in 2013 after the death of socialist leader Hugo Chavez, insists he is the victim of an "economic war" led by businesses with the backing of Washington.

The elections council this month rejected more than 600,000 signatures of nearly 2 million collected by the opposition, including those of high-profile politicians such as two-time presidential candidate Henrique Capriles.

The council also said the opposition handed over some 11,000 signatures corresponding to dead Venezuelans, which Socialist Party leaders cited as evidence the campaign is fraudulent.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

During the current phase of the process, the opposition must validate close to 200,000 signatures, equivalent to 1 percent of the number of registered voters. Doing so would give them a chance to conduct a second officially sanctioned signature drive, in which they would have to garner close to 4 million signatures in order to trigger the recall.

Maduro and allies insist the referendum cannot take place this year because the opposition waited too long before beginning the referendum campaign.

The timing is important because if Maduro loses a referendum this year, the elections council would call a new election - which polls indicate he would likely lose. Losing a referendum after January would mean he would be replaced by his vice president, effectively leaving the Socialist Party in power.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.