Meanings of nationalize banks in English

He has promised to nationalize banks, stop privatizations and freeze any austerity measures demanded by international lenders.

Earlier on Friday, parliament passed a law making it easier for the government to nationalize banks and trim their profits.

In the past, McDonnell has said he wants to overthrow capitalism and nationalize banks, and praised Karl Marx and Friedrich Engels's "Communist Manifesto".

And nationalizing banks raises the problem of re-privatizing.