No bailout of banks in Venezuela, Chavez says

President Hugo Chavez on Sunday said he would "expropriate" Venezuela's banks if they are hit by a finance crisis, AFP says.

Izvor: AFP

Monday, 03.11.2008.

10:24

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President Hugo Chavez on Sunday said he would "expropriate" Venezuela's banks if they are hit by a finance crisis, AFP says. "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 Sunday in the southeastern state of Barinas. No bailout of banks in Venezuela, Chavez says The Venezuelan leader said he found it "strange" that rich countries which have said they have no money to fight poverty 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."

No bailout of banks in Venezuela, Chavez says

The Venezuelan leader said he found it "strange" that rich countries which have said they have no money to fight poverty 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."

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