spencer welsh oil analyst at i.h.s. market thank you. now when his weight is cryptocurrency the petro is just a day old but the country socialist leaders are already claiming a big success saying they have received more than seven hundred million dollars worth of bids in a private pre-sale now president nicolas maduro said the picture would reinforce the country's independence it's the first digital currency to be backed up by a state its price will be linked to that of a barrel of venezuelan crude oil when it goes on sale next month venezuela has the world's largest proven oil reserves but it's in the midst of a crippling economic and political crisis. well the reputation of the european central bank is under scrutiny after one of its representatives reams of it was questioned over allegations over bribery related his position as the head of latvia's central bank and he rejects all accusations of having received bribes from a bank to allow it to stay in business. a day after he was released on bail the governor of lobbyist central bank.