BBC: Venezuela 'paralysed' by launch of sovereign bolivar currency
Venezuela came to a standstill on Tuesday as the country tried to deal with its newly introduced currency.
Thousands of businesses closed in order to adapt to the "sovereign bolivar", and many workers stayed at home.
President Nicolás Maduro launched the new banknotes on Monday, revaluing and renaming the old bolivar currency.
The government says this will tackle runaway inflation, but critics say it could make the crisis worse. The notes went into circulation on Tuesday.
President Maduro had declared Monday to be a bank holiday.
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WNU Editor: In the future students will be taught that if you want to destroy a vibrant economy, study what Venezuelan President Chavez and Venezuelan President Maduro did to their country.
More News On Venezuela 'Paralyzed' By The Launch Of A New Currency
Venezuela’s New Currency Sows Confusion and Shutters Stores -- The New York Times
Venezuela is swept by economic chaos as new currency plan takes effect -- Washington Post
Venezuelan streets quiet after currency devaluation -- Reuters
Venezuela's new currency confusing residents: report -- FOX Business News/AP
Venezuela issues new currency, amid hyperinflation and social turmoil -- CNN
Venezuela's Latest 'Economic Recovery' Already A Failure -- Kenneth Rapoza, Forbes
1 comment:
WNU,
There's slow learners then there's non-learners. As various financial bubble boosters, housing, stocks, tulip bulbs, etc., beat the tom toms they repeat an old saw "This time it's different".
Ho hum. Been there, seen that.
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