EU levies threaten Harley Davidson's business plan - How open is China's open-door policy? –Venezuelan town creates its own currency
The South American country is spiraling further into a humanitarian disaster spurred by the government's economic policies, which have caused inflation to skyrocket 24,571 percent in the past 12 months.
The Venezuelan government blames Banesco executives for exacerbating the country's hyperinflation and collapse of the national currency. Banesco's chief denounced the move as "disproportionate" and "unjust."
Hyperinflation in Venezuela has made money so worthless that artists make handbags out of the country's currency. Their work adds far more value to the pitiful bolivar, reports Manuel Rueda from the Colombian border.
A rural community and a Caracas slum have created their own currencies in response to Venezuela's rapid inflation. Proponents have pinned their hopes on these local-based alternatives, but critics say they aren't viable.
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