Little business fallout seen from Spanish king-Chávez spat Venezuela

The industry minister and one of Spain’s top executives said Tuesday that a spat between King Juan Carlos and Venezuelan President Hugo Chávez will not harm Spanish companies operating in Venezuela.

The king said, ”Why don’t you shut up?” to Chávez at an Ibero-American summit Saturday after the Venezuelan president accused former Spanish Prime Minister Jose Maria Aznar of backing a 2002 coup against Chávez and called Aznar a fascist. The king later stormed out of the room.

The next day Chávez suggested the king himself had advance knowledge of that two-day putsch.

The industry minister, Joan Clos, said Spanish companies have a long-standing presence and important role in the Venezuelan economy and neither side wants any more escalation in the dispute.”*

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