Venezuela ratifies central bank president

Venezuela's National Assembly has ratified by simple majority, President Hugo Chavez' nomination of Gaston Parra Luzardo as the new president of the Central Bank of Venezuela (BCV).

Local press reports said opposition members fear that under Parra's administration, his political affiliation would give him carte blanche for the BCV to become a "unruly monetary system that serves to finance public deficit and for the inorganic emission of money ... or to produce artificial profit like the govern