Caracas Chronicles

The “kicker” — the final line in an article — is one of those formal elements journalists endlessly obsess about despite the fact that the reading public seldom seems to notice. Kicker of the year, this time, goes to Phil Gunson, for this at the end of his ICG report:

The crisis will continue, not only for ordinary Venezuelans but for the government itself, which – despite its apparent strength – faces an acute shortage of cash, a hostile public and internal rifts that may well deepen once the immediate threat passes. Just in terms of debt repayments, Venezuela is obliged to disburse more in the next year or so than it currently has in its foreign reserves. If the power struggle within the regime is won by hardliners determined to close down any avenues to a political transition or to institutional spaces for its critics, then it is highly likely that a similar dispute within the opposition would also be won by the most hawkish elements.

If it fails, the Vatican’s intervention to restart dialogue will be remembered as yet another lost opportunity to halt the downward slide to greater conflict. However, such is the moral authority of the Pope, especially in a Catholic country like Venezuela, that to walk away from Vatican mediation could prove too costly for both sides and an agreement may eventually be reached. In that case, the moderates will emerge empowered, and the mediation could lay the basis for a negotiated transition.

For many Venezuelans, the odds of that happening are in the hands of a higher power, and for that, Pope Francis has the best connections. Asked if there was any hidden factor that made the Vatican more optimistic than many ordinary mortals, a Church source pulled a face. “Anything hidden?” he said. “We believe in miracles”.