Almost since his election in 1998, Venezuelan president Hugo Chávez has kept his country in a more or less continuous state of crisis. Today the country is more polarized than ever--economically, politically, even racially. Meanwhile, in spite of the highest oil prices in more than two decade, the economic situation for most Venezuelans continues to deteriorate.

The Venezuelan crisis assumes a new and shaper dimension given the prospect of a referendum later this year that, if held, could oust President Chávez from office. The latter has denounced efforts by the opposition to collect signatures towards this end and has raised serious doubts as to whether he will respect his own constitution. The country’s institutional consensus is being stretched to the near-breaking point. Experts will discuss the prospects that lie ahead.