20 June 2010

VENEZUELA: Chavez Tries To Calm Nervous Bank Depositors: No More Takeovers!

GUARDIAN.UK/      President Hugo Chávez declared that he has no plans to take over more banks, and urged people not to withdraw their deposits less than a week after the country's eighth largest bank was nationalized. Chavez said there was no reason for anyone to "run to the bank to take out money, scared that Chávez is going to finish off the banks, no." Apparently, internet rumors swirled about more takeovers that threatened to set off panicked withdrawals and a banking crisis.