Economic chaos reined in Venezuela this week after the avowedly socialist administration of President Nicolas Maduro introduced a new currency that is linked, by means of a crypto-currency, to the price of a barrel of oil.
The package of measures brought in this week included the launch of the new sovereign bolivar currency, created by lopping five zeros from the denominated value of its predessor, the bolivar, as well as tax hikes and an increase in fuel prices for consumers not in possession of hardship vouchers.
