But his plans to nationalize
key industries--both of which happen to be controlled by American companies--seem to signal Chavez's intention to follow through on his promises of socialism.
What was somewhat surprising was the way in which Morales' government moved to nationalize
the industry, with "rather theatrical" displays of troop strength and the accompanying statements regarding extension of state control to other sectors, said Atkinson.
These rating actions follow the announcement yesterday by President Chavez of his intent to nationalize
companies in strategic sectors, such as telecommunication and electricity.
The circular, in which the Saudi Arabian Monetary Agency (SAMA) obliged insurance companies to Saudize the above-mentioned sections, will come into effect on July 2, followed by another phase aiming to nationalize
senior and technical positions at these companies.
According to sources, the Liberal Democratic Party decided to nationalize
these uninhabited islets and set them as the new base points of Japan's territorial waters.