Venezuela teeters on brink of debt default

CARACAS: Longstanding fears of a Venezuela debt default crystallized Wednesday, as the political crisis engulfing the sinking OPEC state deepened with a meeting set at the UN Security Council and the EU eyeing an arms embargo.

Investors were bracing for what looked to be an inevitable “credit event” that analysts said could arrive within days -- before a “refinancing and restructuring” of the debt called for by President Nicolas Maduro.