Venezuela: Nationalization of CANTV and Caracas Electricity

Venezuelan President Hugo Chavez was sworn in on Monday, laying out an ambitious plan to speed up and strengthen his “socialist revolution.” (Video in Spanish here) Daniel Duquenal, however, labels Chavez's “21st Century Socialism” “Rehashed Communism” and looks at what the nationalization of CANTV and Electricidad de Caracas could mean in the future. Miguel Octavio adds, “Today markets plunged in Venezuela and so did the country's democracy.”

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