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...Confidence, as many have argued, is crucial during a credit crisis. Derived from the Latin word credere, “to trust, entrust, believe,” credit depends on a threshold of trust to lubricate functioning capital markets. If financial institutions, as creditors, do not trust their debtors—be they individuals, investment funds, or other banks—these institutions will not lend. As the grand dame of economic historians, Anna Schwartz, said in October: “The basic problem for the markets is [uncertainty] that the balance sheets of financial firms are credible...
...voters to decide how long a popular leader can stick around. Term-limit proponents, however, say Chávez's triumph will only carry the region back to its authoritarian past. "What Venezuelan voters decide is their business," says John Walsh, a senior associate at the Washington Office on Latin America, an independent think tank. "But a threshold does seem to have been crossed...
...Castro's autocratic rule over Cuba. His fans counter that some democratic countries such as France allow their leaders to be re-elected indefinitely. But analysts say France has more developed political institutions that exert stronger checks and balances on chief executives. That's not always the case in Latin America, argues Walsh, who says Chavistas "are deluded if they think those institutions are working as they should right now in in Venezuela." (See pictures of Castro in the jungle...
...Washington. "So I don't think Chávez will have too big a problem getting through the crisis." But other economists say Chávez won't be able to sustain the social largesse at home and petro-diplomacy abroad that have made him the standard bearer of Latin America's resurgent left...
...willing to meet with the new U.S. leader before the Summit of the Americas in April in Trinidad. Obama has already invited Brazilian President Luiz Inacio Lula da Silva to the White House next month, a sign that he'd prefer to deal with a more moderate Latin leftist. The only problem is that Lula's second and final term ends next year. Chávez now stands to be around quite a bit longer...