10-05-2005, 11:11 PM
<b>Chavez: Venezuela Moves Reserves to Europe</b>
September 30, 2005 01:50 PM ET
http://www.businessweek.com/ap/financialnews/
D8CUNLQO0.htm?campaign_id=apn_home_down&chan=db
CARACAS, Venezuela (AP) - <b>Venezuela has moved its central bank foreign reserves out of U.S. banks, liquidated its investments in U.S. Treasury securities and placed the funds in Europe, Venezuelan President Hugo Chavez said Friday</b>.
<b>"We've had to move the international reserves from U.S. banks because of the threats,"</b> from the U.S., Chavez said during televised remarks from a South American summit in Brazil.
"The reserves we had (invested) in U.S. Treasury bonds, we've sold them and we
moved them to Europe and other countries," he said.
Chavez, a sharp critic of what he calls <b>"imperialist" U.S.-style capitalism</b>, has often criticized foreign banks for the power they wield in international
financial markets at the expense of poorer countries.
September 30, 2005 01:50 PM ET
http://www.businessweek.com/ap/financialnews/
D8CUNLQO0.htm?campaign_id=apn_home_down&chan=db
CARACAS, Venezuela (AP) - <b>Venezuela has moved its central bank foreign reserves out of U.S. banks, liquidated its investments in U.S. Treasury securities and placed the funds in Europe, Venezuelan President Hugo Chavez said Friday</b>.
<b>"We've had to move the international reserves from U.S. banks because of the threats,"</b> from the U.S., Chavez said during televised remarks from a South American summit in Brazil.
"The reserves we had (invested) in U.S. Treasury bonds, we've sold them and we
moved them to Europe and other countries," he said.
Chavez, a sharp critic of what he calls <b>"imperialist" U.S.-style capitalism</b>, has often criticized foreign banks for the power they wield in international
financial markets at the expense of poorer countries.