Venezuelan president threatens to take over c bank

On Wednesday 7 January Venezuela's President Hugo Chavez threatened to take over the country's independent central bank if it did not agree to his demand to hand over $1 billion in reserves to finance farming projects.

Directors at the central bank have resisted the repeated public threats from Chavez up to now, arguing that the country's laws do not allow them to use international reserves to finance the government's current spending.

The left-wing populist president has waged a two-month publ