Current and future Government officials discussed with "great concern" about the financial position of the National Bank of Economic and Social Development of Venezuela (Bandes), which crosses a major financial crisis. The bank's problems are closely watched by the president and vice president-elect Jose Mujica and Danilo Astori, the future economy minister, Fernando Lorenzo and current Economy Minister Alvaro Garcia. The Venezuelan subsidiary, which grew out of negotiations with the government of Hugo Chávez to avoid bankruptcy of Cofac, has not generated enough business to enable it to function normally. Since the bank has too few deposits, the authorities understand that any failure would not be a problem for the financial system, although it would be for the 400 employees that would lose their jobs.

(www.espectador.com, 18 February 2010)