Venezuela's Chavez sets fast nationalisation pace
Venezuela's Chavez sets fast nationalisation paceBy Reuters
Wednesday February 14, 2007 [08:09]
Venezuelan President Hugo Chavez is setting a faster than expected pace in his nationalisation drive toward self-styled socialism, striking three takeover deals that push out US firms in about a month. Chavez, an ally of Cuba who is vehemently opposed to what he sees as US imperialism, is boosting state involvement in Venezuela, the No. 4 supplier of oil to the United States, as he consolidates power after a landslide re-election last year.
Venezuelan authorities said on Tuesday they would buy the assets of US power company CMS for $106 million, a day after cutting a similar deal with telecom giant Verizon for $572 million. Last week the government signed an accord to buy the holdings of US-based global power generation firm AES Corp. for $750 million despite analysts' predictions of protracted takeover battles.
"The government has showed it's clearly willing to move at a particularly fast pace to deliver on promises," said Patrick Esteruelas, an analyst with the Eurasia Group. The deals came two weeks after Chavez received special powers to rule by decree and five weeks after he vowed to nationalize the telecommunications and power utilities.
The announcements on January 8, which Esteruelas dubbed "Red Monday," wiped out a fifth of the Caracas stock exchange's value.
Labels: CHAVEZ, NEOLIBERALISM, VENEZUELA
posted by MrK @ 4:29 PM
1 Comments:
Hugo Chavez appear to be slowly fixating himself to neocastrolism, which is the perfect ideolism of moving from the step of abject poverty to precapitalism with a sense of comfort however the third step to the american-democracy and capitalism does produce heavy casulaties and poverty which is where Cuba is headed post Castro.
A genius of a nationalist is what castro is all about, in his case protected even by natural forces, and if this is emulated by Chavez am afraid the latino region will be distabilized by just the fear of what he could turn out to be.
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