Economy World

Chavez might nationalize banks and Venezuelan companies

Venezuelan President Hugo Chavez raised the possibility of nationalizing banks and businesses, if shown to support the opposition in order to destabilize the situation in the country, reported the television channel Globovision on Thursday.

“There is a constitutional issue: it would not be a bad transfer of private banks to the country and people, and Venezuelan and international corporations. It would not be superfluous to sign a decree on the nationalization of these companies for subversive activities against the state, “said M.Chavez, adding that he had received information that the opposition, backed by several banks, is preparing to carry out several projects to destabilize the situation in the country. He did not however provide any other details.

This is not the first time that Venezuelan President speaks and acts in this direction. On coming to power in 1999, he nationalized several industrial companies in the fields, notament, mining of gold and oil. In late January, he has announced that several private banks could be nationalized if they refuse to finance small agricultural producers.

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