LEX Stating that he had “no problem” nationalising the remainder of his country’s banking sector, Venezuelan president Hugo Chávez may be sending a message to his regime’s ostensible allies rather than rapacious foreign capitalists. But he needs to tread carefully.
The takeover of four banks owned by a single politically connected businessman and representing 6 per cent of banking assets is not too significant in and of itself. But it may be a none-too-subtle message to other “boligarchs” to make sure to remember their patron now that the economy is sputtering.
