Banks thriving despite Chavez bravado

摘要

When President Hugo Chavez announced on January 8 that his government intended to nationalise the Venezuelan CANTV phone company and the Caracas electricity system, a little hell broke loose among investors. Venezuelan stocks of all types fell rapidly on world bourses. Phone companies, oil stocks, mining and steel companies with Venezuelan exposure - it mattered not; Mr Chavez would steal from all and sundry, investors felt, and only a fool would invest there.