1. Columbus in Venezuela
Christopher Columbus arrived in Venezuela in the year 1498. He landed at the shores of the Orinoco Delta. The area was inhabited by the native Arawak and Carib people.
2. Little Venice
In 1499 Alonso de Ojeda was in Venezuela and he named the area "Veneziola" because the stilt houses in Lake Maracaibo reminded of the city Venice. The country got its current spelling as a result of Spanish influence. The suffix -uela is a diminutive term, so the original meaning of the name was Little Venice. The other story tells that the name derived from an indigenous population who called themselves the "Veneciuela".
3. Discovery of Oil
In the 1920s large oil deposits were found in Venezuela and it became fast world's biggest oil exporter. In the year 1976 Carlos Andres Perez took the oil production under state control.
4. Large dependance of oil
Venezuela gets 95% of the country's export revenues from oil. Oil production also covers more than half of the state budget.
5. Hugo Chavez
Chavez became the president in 1999 and he was the president until he died in 2013. He had already attempted to rise in power in 1992 in an unsuccessful military coup. Chavez was a leftist who acted for the poor. He carried out a land reform, limited the independence of the central bank, nationalized banks and promised a state pension for everyone. USA wasn't in good terms with Chavez and he was accused of having an autoritarian regime.
Timeline
1498 Columbus arrives in Venezuela
1550s First Spanish migrants move to the area
1811 Venezuela declares Independence
1819 Venezuela part of Gran Colombia
1830 Venezuela becomes independent from Gran Colombia
1920 Oil was found in Venezuela
1954 Venezuela's current flag was brought in use
1976 Oil production under state control
1999 Hugo Chavez becomes the president
2006 The 200-anniversary for Miranda's and Bolivar's tricolor
2013 Chavez dies
Sources:
http://en.wikipedia.org/wiki/Venezuela
Maailman liput maat ja historia - Kimmo Kiljunen
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