Truemors
Caracas, Venezuela, 31 July 2008. This afternoon and during a televised message Venezuelan President Hugo Chavez informed the country of his intention to proceed with the nationalization of Banco de Venezuela which was founded in 1883. The Bank of Venezuela was bought by the Spanish Grupo Santander in 2000.
According to Chavez, Spanish banking Santader Group had decided to sell the Banco de Venezuela and asked the government for the appropriate permits. As the Chavez government announced it would be interested i buying it, the Spanish banking Santader Group stated it was no longer interested in selling. Thus in such circumstances, Chavez decided to nationalize it.
It is expected the nationalization announcement would cause stir at Spain where Chavez has just paid an official visit to mend bilateral relations. The Venezuelan government has accused various Spanish political sectors and media of doing their most to misinform over it democratic credentials and foreign policy objectives.
More news to come
Sources: Globovision, YVKE, VTV,
Related story:
Comments (0)