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Chavez threatens to seize banks and firms that back opposition

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Chavez threatens to seize banks and firms that back opposition


The Venezuelan President Hugo Chavez has threatened to nationalise banks and companies that back the opposition ahead of elections later this year.

On return from his latest trip to Cuba for cancer treatment, he was keen to show there were no ill effects, as he danced alongside children on stage in Caracas.

Chavez said he had a list of private banks that were financing what he called the opposition’s ‘destabilising plans’.

“There are big national companies and some international firms that earn a lot of money and support the opposition’s plans. It would not be a bad idea to order the nationalisation of big companies for attempting to act against the constitution and national peace,” he said.

The president, who’s seeking to extend his 13-year rule till 2019, didn’t mention individual banks or companies by name.

He’s already seized billions of dollars in assets from foreign firms. The government faces several arbitration cases after failing to reach compensation agreements.

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