A committed capitalist, Leonardo Camacho has little time for the socialist ideals espoused by President Hugo Chávez of Venezuela. But even for him, the “Bolivarian revolution” has some redeeming features.

“They’re just giving money away,” he says incredulously, puzzling over why Venezuela’s foreign exchange administration agency, Cadivi, should approve his request for dollars for what he described as a “state-subsidised” holiday to Panama. “I’d be crazy not to do it,” he adds.