Chaves threatens to close banks

President Hugo Chavez has threatened to nationalise the Venezuelan subsidiaries of Spanish banks Banco Santander – Abbey Bank owner – and Banco Bilbao Vizcaya Argentaria, if Spain’s king does not apologise for telling Chavez to “shut up”.

“Are we going to turn the page, are we going to forget? No!” Chavez told hundreds of thousands of supporters at a campaign rally ahead of tomorrow’s vote on constitution changes.

“The only way this is going to be fixed is for the king of Spain to offer an apology for having attacked the Venezuelan head of state,” Chavez said.

“[Otherwise] I’ll start thinking about what actions to take,” he continued. “Spaniards bought some banks here, and it doesn’t cost me anything to take those banks back and nationalise them again, and put them in the service of the Venezuelan people.”

Spain’s King Juan Carlos told Chavez to “shut up” during a regional summit meeting last month in Chile, where the Venezuelan leader had called Spain’s former premier, Jose Maria Aznar, a fascist.