Following the inextricable match towards the socialist utopia, and the destruction of the Venezuelan economy, President Hugo Chavez announced the seizure of French-Colombian supermarket chain Exito, on the grounds that it had broken the law by raising prices following the devaluation of the country’s bolivarian currency. The currency is sinking like a stone, the economy is in tatters and inflation (devaluation notwithstanding) is rising rapidly. Even on the basis relied on by Mr. Chavez, it is difficult to see how this benefits the people of Venezuela. Beyond that, foreign investment in that country will cease to exist.
Columbia Report – Venezuela began the nationalization of French-Colombian supermarket