Chavez To Seize Banks If Finance Crisis Reaches Venezuela

President Hugo Chavez said he would “expropriate” Venezuela’s banks if they are hit by a finance crisis like the one that has rocked the world economic system.

“If something similar comes to pass in Venezuela, you should not have the slightest doubt that I won’t give a penny to the banks – I’ll expropriate them,” said Chavez, speaking yesterday in the southeastern state of Barinas.

The Venezuelan leader said he found it “strange” that rich countries which have said “that they have no money to fight poverty, from one day to the come up with billions of dollars (to bail out the banks).

They remain unable, he chided, to finance “the production of food and medicine or to support education, but can help out the bankrupt bankers.”

He added however, that so far the global banking crisis has not affected Venezuela’s economy “thanks to the revolution, which has strengthened it.”

Source: Times Of India


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