Experts discussed what it will take to pull Venezuela out of its economic hole and political stalemate. ... Play Video
Alejandro Grisanti, Economist and former Venezuela Analyst at Barclays
Armando Briquet, Political Consultant and former Campaign Manager for Henrique Capriles' presidential bid
Francisco Monaldi, Fellow in Latin American Energy Policy at the Baker Institute, Rice University
Luz Mely Reyes, Journalist and Founder of Efecto Cocuyo (moderator)
While other oil economies learned from the 1970s crisis, Venezuela didn't and faces an unparalleled economic crisis today that includes catastrophic inflation and a brutal drop in real wages. Economic recovery is possible but will be costly, though less so if groups such as the International Monetary Fund are allowed to step in. Politcally, the opposition has been able to unify and address issues with the other branches of power, said panelists, but democratic progress is slow and will take time.