Monday, July 18, 2005

Venezuela to seize 'idle' firms

Excerpts from the BBC:

"The Venezuelan government has warned it will confiscate hundreds of private companies that are lying idle if they fail to re-open.

"President Hugo Chavez said the firms' workers would be given help to set up co-operatives and re-start production for the benefit of the community."

"Some business leaders fear it may lead to a wider attack on private property."

(Ya think?)

"But in his broadcast, Mr Chavez again insisted that Venezuelans have a clear choice."

"Either capitalism, which is the road to hell, or socialism, for those who want to build the kingdom of God here on Earth," he said."

"We want to work with you to help restore your production," he told company owners."

(Translation: I'm from the government, and I'm here to help you........)

The whole BBC story is here.


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