[R-G] Chavez to expropriate banks in crisis

[Anthony Fenton]

Nov 3, 2008
Chavez to seize banks in crisis
http://www.straitstimes.com/Breaking%2BNews/Money/Story/STIStory_297867.html
		
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. -- PHOTO: AGENCE FRANCE-PRESSE
CARACAS - PRESIDENT Hugo Chavez on Sunday 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 Mr Chavez, speaking on Sunday in the south- 
eastern 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'. -- AFP