Venezuela bank law makes nationalizations easier

CARACAS, Dec 17 (BestGrowthStock) – Venezuela’s parliament passed
on Friday a law that will make it easier for President Hugo
Chavez to nationalize financial institutions and require them
to give five percent of profits to community groups.

The law is part of a package of legislation the Venezuelan
government is pushing through to entrench socialism in the
South American OPEC member nation. [ID:nN16274240]

(Reporting by Frank Jack Daniel, Editing by Sandra Maler)

Venezuela bank law makes nationalizations easier