VENEZUELA: Chavez threatens to "intervene''private banks.
Saturday, May 15, 2010
Test At 8 Weeks It Is Conclusive
Venezuela's President Hugo Chavez warned on Saturday that if private banks do not "fit the national project''and give credit to the people and social development projects," will end up surgery ' '. O private banks Venezuela is in the national project are attached and the law, or they will end an operation. I'm not going to permeate the whole life!''Chavez said during a ceremony broadcast by official VTV.
"O give credit to the people or give me the bank. I'll pay you later and I'll see how you'll pay,''he said to the bankers.
Chavez said he received a message through its network management social Twitter in which a person complained that a bank refused a loan to buy a house because it does not win at least 7,000 Bolivars per month ($ 1.627), ie about seven times the minimum wage.
"That's the capitalist banks , this is where I say or private banks in Venezuela there are attached to the national project (Socialist) and the law, or else they will end surgery, I'm not going to sink the whole "If they (the bank Venezuelan private) use the money to lend to agriculture, infrastructure, well, that would be fine. But no, they like the speculative market,''the president continued.
must be forced private banks to give credits,''and if they do "should give us the bank,''said the head of state during an inspection of a construction of environmental sanitation in the Valles del Tuy, about 50 kilometers west of Caracas. Chavez
finalized the purchase last July for $ 1,050 million, the Bank of Venezuela, the country subsidiary of English Grupo Santander, the third largest in the country.
Chávez's government and involved a total of eight banks for small and medium importance between November and December 2009, to "ensure the restoration of the national financial system.''Of these, two were cleared and four nationalized and merged into Bicentennial new state bank.
"Confederate Bank, Central Bank and Royal Bank Universal, more Banfoandes structural basis, these four components will form a new bank that will be called the Bicentennial Bank in honor of the bicentennial independence,''Bush said in announcing the creation of the new bank.
With these latest interventions, the state focuses on its hands more than 25% of the domestic financial sector.
In December 2009, amid the small banks crisis surgery, Chavez again threatened to "intervene all the traditional private banking in the country''if the industry had not committed crimes.
The President said then that government-owned businesses and operated the liquidated banks would be transformed into state enterprises.
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Source: El Nuevo Herald.
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