Venezuela: Why Chavez lost his bid for supreme power

“Thank God, the people said no,” said Lucas Riestra in Venezuela’s El Periodiquito. Venezuelans this week refused to allow President Hugo Chavez to “eternalize” his power, narrowly voting to reject the 69 proposed constitutional amendments that would have abolished presidential term limits and given the president direct control over the central bank and the national oil reserves. Had the amendments passed, Venezuela would have “lost all semblance of democratic pluralism.” It would have become

a thoroughly socialist state, with a single party and a centralized economy—just like a Soviet republic. Fortunately, the Venezuelan people “drew their strength from God and said no.”

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