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Context of '1948: Venezuelan President Gallegos Overthrown'

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President Romulo Gallegos, Venezuela’s first democratically elected leader, is overthrown within eight months of his election in a military coup led by Marcos Perez Jimenez, who forms a government with backing from the armed forces and the US. [Klein, 2003, pp. 489; BBC, 8/14/2004]

Entity Tags: Romulo Gallegos, Marcos Perez Jimenez

Timeline Tags: US-Venezuela (1948-2005)

US banker Douglas McDermott says of the US-backed Venezuelan dictator Marcos Perez Jimenez, “You have the freedom here to do what you want with your money, and to me, that is worth all the political freedom in the world.” [Hunt, 9/1/2009, pp. 9]

Entity Tags: Marcos Perez Jimenez, Douglas McDermott

Timeline Tags: US International Relations, US-Venezuela (1948-2005), Global Economic Crises

The Spanish football club Real Madrid sells its training ground to the city council for €480m to wipe out a €290m debt. Under the agreement, the football club will relocate to a new training complex on the outskirts of the city by 2004. The council plans to construct four huge office blocks on the site of the current training ground, as well as a new 20,000-capacity sports pavilion for the city’s 2012 Olympic bid. Real president Florentino Perez says the deal will lift a major burden that has been hanging over the club. “I have been working for this from the very day I became president,” says Perez. “This is very important for Real Madrid because we have removed a terrible burden and will soon have a new training ground which will be even better than AC Milan’s Milanello training complex. From now on we can live without anxiety or financial difficulties. Real Madrid has not only to be a sporting leader, it must also be a financial leader too.” [BreakingNews(.ie), 5/8/2001] Real will use the proceeds of the sale to buy top players such as Zinedine Zidane, Luis Figo, Ronaldo, and David Beckham, but the transaction will be investigated by the EU (see March 3, 2004). However, Real will not be forced to repay any of the money (see (November 9, 2004)).

Entity Tags: Florentino Perez Rodriguez, Real Madrid Club de Fútbol

Timeline Tags: Football Business and Politics

Venezuelan President Hugo Chavez is overthrown in a military coup. However, the coup collapses after two days, and Chavez returns to power. [BBC, 4/14/2002] Otto J. Reich, the US’s assistant secretary for Western Hemisphere Affairs, is in contact with Chavez’s successor on the very day he takes over. The Bush administration claims Reich was pleading with him not to dissolve the National Assembly. [New York Times, 4/17/2002]

Entity Tags: Rogelio Pardo-Maurer, Lucas Romero Rincon, Fidel Castro, Hugo Chavez Frias, Otto Juan Reich, Elliott Abrams

Timeline Tags: US-Venezuela (1948-2005)

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