Chavez after an extra 9bn dollar to fund “Love for the Elderly”

Thursday, July 12th 2012 - 02:27 UTC

Full article 4 comments

Venezuelan President Hugo Chávez will seek Congress' approval to hike the 2012 government borrowing cap by about a third to 27 billion dollars to help fund a new pension program ahead of his October 7 re-election bid. Read full article

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JoseAngeldeMonterrey
What is Mercosur getting when Venezuela joins?

Oil? not much, he has Venezuela living from credit lines from China, and most of his oil exports are already compromised for the next decade, they belong to China, the US, Japan and Europe. At the same time more oil is being discovered every single day, the days of the so called “oil peak” are over. There´s oil in the artic, there´s oil in the Falklands, there´s oil in Israel, there´s probably oil in Switzerland but they wouldn´t want to know it. So the price continues to fall steadily.

Venezuela´s internal market has been destroyed by Chavez´s crazy populism and nationalizations, with Venezuela´s best fleeing the country, including thousands of Venezuelan ´s of Jewish origin that have been harassed by their own government. So the best and the brightest of Venezuela are leaving the country.

A reliable partner? I don´t think so. Chavez´s regime has lost legitimacy as the years pass and he remains in power at whatever cost.
Jul 12th, 2012 - 06:57 am - Link - Report abuse 0
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Guzz
Jose
I can assure you they have more to offer than Paraguay...

Chavez remains in power at whatever cost? What cost, the cost of elections? Those are free...
Jul 12th, 2012 - 08:52 am - Link - Report abuse 0
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JoseAngeldeMonterrey
Guzz,

Venezuela´s elections aren´t free at all. Every election year Chavez´s government pumps billions of funds into the economy in order to create a temporary atmosphere of economic bonanza.
Jul 12th, 2012 - 11:41 am - Link - Report abuse 0
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British_Kirchnerist
Great initiative, if only Europe would love and treat its elderly as well!
Jul 12th, 2012 - 01:01 pm - Link - Report abuse 0
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