|
|
WikiLeaks cables: Chavez desperate for capitalist oil companies to fund broke socialist revolutionAmerican diplomats say president is now desperate to attract foreign partners after nationalisation frightened many away
by Rory Carroll in Caracas
Venezuela's tottering economy is forcing Hugo Chávez to make deals with foreign corporations to save his socialist revolution from going broke.
The Venezuelan president has courted European, American and Asian companies in behind-the-scenes negotiations that highlight a severe financial crunch in his government.
Venezuela's state-owned oil company, PDVSA, is the engine of the economy but buckled when given an ultimatum by its Italian counterpart and has scrambled to attract foreign partners, according to confidential US embassy cables released by WikiLeaks.
The memos depict an unfolding economic fiasco and suggest some of Chávez's key allies – Argentina, Brazil and Cuba – are gravely concerned at Venezuela's direction. "President Chávez, for his part, is acutely aware of the impact the country's general economic trajectory has had on his popularity," says one cable.
With a recession, underfunded infrastructure and 30% inflation, Venezuela's economic woes are no secret. But the government has insisted PDVSA, the country's golden goose, is thriving and capable of funding Chávez's vision of "21st century socialism".
Read More
|
Latest Geopolitics
- Jamaica is About to Decriminalize Ganja
- Documents Show US Enemy ISIS & US Ally Saudi Arabia Prescribe Near-Identical Punishments For Crimes
- Catalonia Overwhelmingly Voices Desire for Independence
- Guatemalan President Will Present Plan to Legalize Marijuana, Opium Production
- Italian Government Cracks Down on Separatists
- Crisis Looms for Addicts as Russia Bans Methadone in Crimea
- Venice Votes to Split from Italy as 89% of the City's Residents Opt to Form a New Independent State
- Russia Threatens To Abandon The U.S. Dollar And Start Dumping U.S. Debt
|
FAIR USE NOTICE
|
|
This site contains copyrighted material the use of which in some cases has not been specifically authorized by the copyright owner. Such material is made available for the purposes of news reporting, education, research, comment, and criticism, which constitutes a 'fair use' of such copyrighted material in accordance with Title 17 U.S.C. Section 107. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner. It is our policy to respond to notices of alleged infringement that comply with the DMCA and other applicable intellectual property laws. It is our policy to remove material from public view that we believe in good faith to be copyrighted material that has been illegally copied and distributed by any of our members or users.
|
|
About Us - Disclaimer - Privacy Policy
|
|
|
The Century of the Self: The Untold History of Controlling the Masses Through the Manipulation of Unconscious Desires
Operation Gladio: The Hidden History of U.S. Sponsored False Flag Terrorism in Europe
The New American Century: The Untold History of The Project for the New American Century
Print
Man Follows Speeding Cop, Finds Out He Was Speeding To Buy Peanuts
Mission Creeps: Homeland Security Agents Confiscate Women's Panties For 'Copyright Infringement'
Cop Shoots Couple's Dog, Threatens Jail For Trying To Save Dog's Life
SWAT Team Shoots Teen Girl & Her Dog During Pot Raid On Wrong Home
Durham, NC Cop Testifies Faking 911 Calls To Enter Homes Is "Official Policy"
Indiana Sheriff Says US A "War Zone" To Justify New MRAP Military Vehicle
Tampa Cops Surveil Pot Dealer, Catch Him Selling Pot, Raid His Home & Kill Him
"You Just Shot An Unarmed Man!": Witness Says Police Shot His Friend With His Hands Up