"World Bank Chief Zoellick Says Chavez’s ‘Days Are Numbered’"

[white_wolf]

"World Bank President Robert Zoellick said Venezuelan President Hugo Chavez’s “days are numbered” economically and politically and that the region should prepare to move into a new era of democracy on his eventual exit."

"“Chavez’s days are numbered,” Zoellick said. “If his subsidies to Cuba and Nicaragua are cut, those regimes will be in trouble. There will be an opportunity to make the Western Hemisphere the first democratic hemisphere. Not a place of coups, caudillos, and cocaine -- but of democracy, development, and dignity.”

"Chavez often criticizes the World Bank and the International Monetary Fund for being instruments of what he calls the U.S. “empire” and for dictating market-friendly policies that fail to improve the lives of the region’s poor.

Venezuela sends Cuba about 100,000 barrels of oil a day in exchange for more than 20,000 doctors who work in state-run Venezuelan clinics. Nicaragua also receives oil from Venezuela, through the Petrocaribe agreement, which is repaid over as many as 25 years and can include food and textiles as payment."

"Chavez said in January that he’s pulling Venezuela from the World Bank’s arbitration court -- the International Centre for the Settlement of Investment Disputes, known as ICSID -- this year as investment dispute cases have mounted against the South American country after a wave of nationalizations. He also threatened to withdraw from the IMF in 2007. "

This article is a few days old so I don't think it belongs in LBN, so I thought I'd share it here. Oh, and is it just me or is it whenever these 1%ers talk about "democracy" and "development" they really mean "democracy for the rich, slavery for the poor"

Here is the full like if you want to read it: http://www.businessweek.com/news/2012-06-08/world-bank-chief-zoellick-says-chavez-s-days-are-numbered

[marmar]

1. 'new era of democracy on his eventual exit'

Translation: Freedom for Multinational Corporations to come in transfer all public wealth to private hands, and to steal every resource they can find.

[white_wolf]

2. That pretty much sums it up. n/t

[Arctic Dave]

3. Yeah, because "capitalism" has worked out so well around the world.

Sounds like someone is going to steal the election and he let the cat out of the bag.

[white_wolf]

4. That's what I'm expecting.

You know the fact that the head of the World Bank wants Chavez to lose should really send up warning signs the posters here who support Capriles. I mean when has the World Bank ever been on the side of the poor?

[Zalatix]

5. That's a popular misconception. The World Bank primarily helps the poor.

The poor, put-upon bankers, that is.