The ominous forecast was made by the chief economist at Deutsche Bank Michael Speaker on CNBC today. The TV host asked: “You have to wonder if the US pressure is pushing Venezuela and the region into further instability?” The economics expert replied: “I think it’s intended to.
“I think the US is trying to force the issue and see whether they can instigate a kind of ‘people power’ revolution that could topple Maduro.
“That almost would be their best case scenario.
“The risk is that we end up in a protracted stalemate and it begins to look more like an old Cold War-style conflict where you have the Chinese and the Russians supporting Maduro and the rest of the world supporting Guaido.
“And does the US get drawn into any kind of military presence back in the western hemisphere for the first time in a very long time?”
Venezuela has been in turmoil under the leadership of current president Nicolas Maduro, who is backed by Russia and China.
The Latin American country has been suffering economic and societal collapse, brought on by skyrocketing hyperinflation, shortages of food and medicines, as well as looting and violence.
It is estimated by the United Nations that 5000 Venezuelans are leaving the country each day.
Meanwhile US President Donald Trump has backed the opposition leader Juan Guaido who has declared himself interim president.
Numerous other western nations have declared that they would back Mr Guaido as a new leader if Mr Maduro refuses to hold fresh elections.