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 CARACAS, Venezuela (AP) - Venezuelan President Hugo Chavez warned he will nationalize the country's banks and largest steel producer in an apparent bid to strong-arm the businesses to contribute more to local industry.
Delivered in a wide-ranging speech in which he promised Venezuela was headed for a classless society, Chavez's threat Thursday did not seem to signal an imminent takeover.
But coming alongside recent moves to nationalize telecommunications, electricity companies and the oil sector, the warning was yet another sign the Venezuelan leader is serious about deepening his socialist revolution.
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