Friday, May 22, 2009

Venezuela: Now Chavez grabs steel industry

President Hugo Chavez announced Thursday the nationalization of several steel companies in the country, to pave way for a large "socialist" state-run enterprise, without giving details on the venture, AFP revealed.

"There is nothing to discuss. We've been on this for a long time," he said, ordering the beginning of "a process of nationalization to create an industrial complex."

Source: FOCUS Information Agency
Published by Mike Hitchen, Mike Hitchen Consulting
Putting principles before profits