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Venezuelan leader Hugo Chavez: "Capitalism needs to go down" (340 hits)

Venezuelan President Hugo Chavez ridiculed the G-20 summit's attempts to deal with the global financial meltdown, saying that the "values of capitalism are in crisis" and capitalism "has to end."

Speaking to Venezuelan state television late Thursday, Chavez said the United States and Britain are "the most guilty" for the financial crisis sweeping the globe because of the financial model "they've been imposing for years."


"It's impossible that capitalism can regulate the monster that is the world financial system, it's impossible," Chavez said. "Capitalism needs to go down. It has to end. And we must take a transitional road to a new model that we call socialism." Read more...

Posted By: Steven Muhammad
Saturday, April 4th 2009 at 11:27PM
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