Thus far the bully's threats have been gunboat hype and showboat hoopla. The question is, will bluster give way to bombs? An expansionary ideology propels Chavez, one that inflates his already explosive ego. He bills himself as the new Simon Bolivar, who will reunite the South American continent while cowing the United States and other imperialists -- like the Dutch.
Which is where Curacao enters Hugo's gunsights. Though the Dutch West Indies no longer formerly exists as a political entity, Holland retains responsibility for Curacao's defense and other foreign policy-related matters.
Hugo is screwing up his own country. But a war would be a good way to deflect the blame to someone else. But only the Dutch seem like a good target--European, present near Venezuela, but far away and too weak to hold their positions against a serious Venezualan attack.
I've addressed this issue before. This could become another out-of-area NATO issue if Hugo acts as stupid as he seems.
The Dutch should beef up their forces to make sure they can hold an enclave even if they can't hold all the islands, until help can arrive from home and from America to eject Hugo's invaders.