Chavez Tastes Defeat Over Reforms

Via Time.com -

Venezuelan President Hugo Chavez's left-wing, oil-fueled revolution usually carries itself like a swaggering, cocksure juggernaut. So it was a sign that things perhaps weren't looking good for the fiery, anti-U.S. leader Sunday night when he didn't appear on the balcony of Miraflores, the Caracas presidential palace, pumping his fists and crowing confidently about victory. Venezuela's polls had closed in a national referendum on a raft of constitutional reforms that would have profoundly tightened his hold on political power in Venezuela — including an amendment to eliminate presidential term limits (which currently last six years). Instead, Chavez's Vice President, Jorge Rodriguez, appeared as the night wore on and told reporters, "We will respect the result, whatever it is."

And, to the astonishment of his opponents, Chavez did. At around 2 am this morning, Caracas time, Chavez conceded his first electoral defeat since winning Venezuela's presidency in 1998. After facing an unusually strong protest movement on the streets of Venezuela's major cities — led not by traditional opposition figures but by university students who'd grown fearful that Chavez was moving the country toward a Cuba-style dictatorship — his reforms were narrowly beaten back by a 51% to 49% margin. The result, and Chavez's graceful acceptance of it, may well have set not only Venezuela, a key U.S. oil supplier, but all of Latin America on a far surer path to democracy in the 21st century. "This was a photo finish," Chavez told his stunned backers after his defeat was announced. "Don't feel sad, don't feel burdened."