Venezuela opposition takes legislature

An opposition coalition has won an overwhelming victory in Venezuela’s legislative election, giving it control of the National Assembly for the first time in 16 years. Its likely changes would steer Venezuela away from the tilt toward executive power that Mr. Chavez had introduced and his successor, Nicolas Maduro, perpetuated.

“The United States congratulates the people of Venezuela for making their voices heard in a peaceful and democratic way on election day”, US Secretary of State John Kerry said.

Venezuela has the world’s largest oil reserves, but plunging oil prices have left the South American country with one of the world’s highest inflation rates, widespread product shortages and long lines to shop for basics.

Although it has been portrayed as an opposition party, the only thing the party has vowed it will do is to free jailed political prisoners and present legal reforms.

It was very late, about 1am local time, when the first election results were announced.

As for President Maduro’s response, he said in a televised address that he recognized the opposition’s win – but celebrated that Venezuela’s democracy had triumphed.

The opposition party in Venezuela claimed a majority of seats in the country’s National Assembly in Sunday’s elections.

Opposition leaders have been assuring the press they’ve captured 112 spots in the legislature – just above the 111 needed for a two-thirds super majority. After securing control of the National Assembly from the “Chavismo” movement, named for late former socialist President Hugo Chavez, opposition leaders quickly set out their priorities.

President Nicolas Maduro promptly accepted the defeat, which delivered a blow to the “revolution” of “21st-century socialism” launched by his predecessor Hugo Chavez, who died in 2013. And some have already floated the idea that outgoing lawmakers will pass a law granting Maduro special decree powers to ride roughshod over the new congress, which won’t be sworn in until January.

“The economic war has triumphed today”, he said.

Analysts say negotiations with Maduro will be extremely hard, despite the opposition’s parliamentary majority, given the PSUV’s strength among certain swaths of the population and government figures placed throughout the country’s institutions. He says the “business climate in Venezuela has been so negative” that many financial and business activists migrated from their homeland.

The country has seen massive protests and violence in the streets for years, and opposition leaders have been imprisoned.

The government’s defeat was another disappointment for Latin America’s bloc of left-wing governments following Argentina’s swing to the centre-right in last month’s presidential election.