Chavez takes aim at the banks

Depositors beware!

President Hugo Chavez appears to have initiated his campaign to nationalize Venezuela’s private banks.

Yesterday a group of union workers employed by BOD protested outside the bank’s main branch in Caracas. Reportedly, Banco Provincial is the next target for a “union” protest.

Veremos what happens in the coming days or weeks.

But this is a much-used regime tactic to launch the takeover process at many companies. Ask the former Argentine owners of Ternium Sidor.


About Caracas Gringo

Representing less than 0.00000000001515152% of the world population as of 31 December 2011.
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