X

Chavez Goes After Rich Resort, Yachts

He wants to nationalize archipelago, take vessels in Venezuela
By John Johnson,  Newser Staff
Posted Nov 1, 2011 6:08 PM CDT
Chavez Goes After Rich Resort, Yachts
A woman takes a picture of his companion on one of the islands of Los Roques archipelago in Venezuela.   (Getty Images)

(Newser) – Hugo Chavez is turning from his battle with cancer to a more familiar foe: the ultra-rich. The Venezuelan leader is preparing an unprecedented nationalization of an idyllic group of islands in the Caribbean known as the Los Roques archipelago, report Time and the AP. While Chavez has nationalized scores of companies since 1999, this would be the first time he would seize private residences, inns, and even yachts. He criticized the "high bourgeoisie" and "international set" who frequent the Venezuelan islands.

story continues below

"Expropriating a boat is completely absurd," complains a Caracas factory owner who vacations there. "I don't see how they can take away something you've worked hard for and bought." Environmentalists, meanwhile, are worried that the pristine beaches and fragile ecosystem would be ruined if opened to mass tourism by the state. No word yet on when the seizures will take place, but the nation's moguls reportedly are already emptying their island homes of treasure. (Read more Hugo Chavez stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
X
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.

X