Venezuelan President Hugo Chavez urged his Latin American allies on Saturday to begin withdrawing billions of dollars in international reserves from U.S. banks, warning of a looming U.S. economic crisis.
Chavez made the suggestion as he hosted a summit aimed at boosting Latin American integration and rolling back U.S. influence.
Chavez noted that U.S. Secretary of State Condoleezza Rice visited Colombia in recent days, saying "that has to do with this summit."
"The empire doesn't accept alternatives," Chavez told the gathering, attended by the presidents of Bolivia and Nicaragua and Cuban Vice President Carlos Lage.
Chavez warned that U.S. "imperialism is entering into a crisis that can affect all of us" and said Latin America "will save itself alone."
To help pool resources within the region, Chavez and other leaders were setting up a new development bank at the summit of the Bolivarian Alternative for the Nations of Our America, or ALBA.
The left-leaning regional trade alliance first proposed by Chavez is intended to offer an alternative, socialist path to integration while snubbing U.S.-backed free-trade deals.
On Saturday, Chavez welcomed the Caribbean island of Dominica into ALBA, joining Nicaragua, Bolivia and Cuba. Attending as observers were the prime ministers of Antigua and Barbuda and St. Vincent and the Grenadines, along with officials from Ecuador, Honduras, Haiti and St. Kitts and Nevis.
http://news.yahoo.com/s/ap/20080126/ap_ ... a_summit_1