HTTP://WWW.STOPNATO.ORG.UK --------------------------- VIVA
CHAVEZ!
VIVA THE VENEZUELAN
PEOPLE!
----- Original Message ----- From: Jose G. Perez To: [EMAIL PROTECTED] Sent: Sunday, December 16, 2001 7:35 PM Subject: [CubaNews] Chávez lays down the law to bankers: lend to small farmers ... or else Saturday December 15 8:29 PM ET Venezuela's Chavez Threatens Banks By CHRISTOPHER TOOTHAKER, Associated Press Writer CARACAS, Venezuela (AP) - President Hugo Chavez threatened on Saturday to nationalize banks that fail to observe legislation requiring them to lend at least 15 percent of their loan portfolio to small farmers. ``We can nationalize any bank that does not observe the law,'' Chavez said in a speech in Venezuela's National Assembly. ``Not only can we nationalize any bank, any banker that does not abide by the law could go to jail.'' Last month, Chavez' government used ``fast-track'' legislative powers to decree 49 laws affecting industries from oil to agriculture. Under the new legislation, banks must lend at least 15 percent, rather than the previous 8 percent, of their portfolios to poor farmers in need of credit. Another contentious law opens the way for the expropriation of ``idle'' farmlands and the distribution of small plots to farmers. Chavez made the statements during a ceremony to commemorate the second anniversary of the approval of the new constitution. To protest the laws, Fedecameras, the country's leading association of businesses, brought Venezuela to a virtual halt with a one-day nationwide strike earlier this week. It is also challenging the laws in Venezuela's highest court and pushing for amendments in the legislature. Business groups fear the Land Law violates the right to private property and will scare off investors. Some bankers have said they would rather pay a fine for disregarding the new laws than provide more loans. It was not immediately clear how much banks could be fined for ignoring the laws. Chavez, a leftist former paratrooper, claims the package of laws will consolidate his so-called ``revolution'' aimed at bringing social justice to Venezuela's poor majority. To subscribe to CubaNews, send an email to: [EMAIL PROTECTED] ==^================================================================ This email was sent to: archive@jab.org EASY UNSUBSCRIBE click here: http://TOPICA.COM/u/?a84x2u.a9WB2D Or send an email to: [EMAIL PROTECTED] T O P I C A -- Register now to manage your mail! http://www.topica.com/partner/tag02/register ==^================================================================ |
