Venezuela: A Chill Follows Threat by Chávez

Por Venezuela Real - 5 de Mayo, 2007, 13:58, Categoría: Prensa Internacional

Simón Romero
The New York Times
Mayo 5, 2007

Financial markets reacted with concern to a threat by President Hugo Chávez to nationalize the banking system. Mr. Chávez said Thursday that banks should finance industry at a low cost. “If banks don’t agree with this, it’s better that they go, that they turn over the banks to me, that we nationalize them and get all the banks to work for the development of the country and not to speculate and produce huge profits,” Mr. Chávez said. Venezuela’s currency, the bolívar, fell more than 3 percent in unregulated trading to about 3,950 to the dollar, traders said, and investors sold government bonds amid fears that a state takeover of banks could weaken the economy.





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