Venezuela Opposition Wins Majority in Legislative Elections

The right-wing coalition, the Democratic Unity Roundtable (MUD) won 99 seats in Sunday’s legislative election, giving them a simple majority for now, with a total seats still undecided.

“Our time has arrived”, said Diana Rodriguez, 37, a teacher and mother-of-two voting in affluent east Caracas dressed in white in solidarity with imprisoned opposition leader Leopoldo Lopez and other activists in jail.

A source in the anti-government camp who spoke on the condition of anonymity because results were not yet official told The Associated Press the opposition had won around 100 seats. “I always told you all, this was the way!”

After warnings of a repeat of last year’s deadly riots that left 43 people dead, his acceptance of defeat seemed aimed at calming tensions – though he stuck to his political position.

CARACAS – A few incidents have been reported during the National Assembly elections Sunday in Venezuela, where some voters ate ballots and military personnel tried to enter election precincts, Defense Minister Gen. Vladimir Padrino Lopez said.

“Bonds should rally strongly – Venezuela is on the road to be one of the best trades of 2015”, Jorge Piedrahita, the chief executive officer of broker-dealer Torino Capital in NY, said in an e-mail, adding that the opposition is projected to win as many as 113 seats that would give it the two-thirds qualified majority it needs to “change the direction of the country”.

Maduro reportedly resigned himself to a potential opposition victory and said that “peace and democracy must reign” in importance above any particular political movement, according to The Washington Post.

“We hope the revolutionary process can continue”.

Venezuela’s opposition has won an overwhelming victory in parliamentary elections in the oil-rich nation, which is mired in economic turmoil and violent crime.

In the first major controversy of the day, the National Electoral Council, which critics accuse of a government bias, said it was suspending the observation credentials of former Bolivian president Jorge Quiroga for criticisms he has made.

The Socialists have gained 46 seats, with another 22 yet to be declared. But it would shatter the Socialist Party’s aura of invincibility and could embolden foes to seek a recall of Maduro in 2016.

Nevertheless, under Venezuela’s presidential system the United Socialist Party of Venezuela (PSUV) will still be a strong force, as additionally, it commands many municipalities.

“Venezuela wanted a change and today that change has begun”, said Jesus Torrealba, leader of the MUD coalition.

Supporters of the revolution led by Chavez, who died on March 5, 2013, and the opposition blame each other for the South American countrys economic woes.

Only 14 percent of Venezuelans said they were satisfied with the country’s direction.

It also echoes a shift to the right seen in Argentina last month when Mauricio Macri won the presidential election promising to rewrite the playbook on the country’s economy. Datanalisis shows his popularity rose 11 points in late November to reach 32.3 percent, which may be the result of his intense campaigning.

Since the mustachioed former bus driver Maduro was elected after Chavez’s death in 2013, soaring inflation has slashed families’ spending power. Some hardliners are also vowing to seek a recall referendum to cut short Maduro’s term before it ends in 2019.