Chavez's defeat in Venezuelan referendum a clear victory for common people and freedom but it is also a stern warning against western oil companies
Sudhir Chadda
Dec. 4, 2007

What happened in Venezuela is interesting. While in the rest of the world is starting form Pakistan, Myanmar, to Russia, the common people are being pushed to the wall and democratic norms become history. In Venezuela people have rejected any further erosion in their democracy and their democratic institutions.

It is victory of the Venezuelan people. It also shows that Chavez unlike Musharraf and Putin did not steal the referendum. "It was people's battle against a state plan that tried to place the entire nation's power and oil wealth at the service of a political project," said Leopoldo Lopez, a mayor in the anti-Chavez chic Chacao district in Caracas. It shows that some sort of democracy exists in Venezuela.

But when you look at the whole scenario, you see that there much more to this outcome than Chavez's defeat. The razor-thin margin by which his plans were defeated is noteworthy. It is also a stern warning against western oil companies operating in Venezuela. Chavez said he recognized his plans to enshrine his vision of a socialist economy in Venezuela's charter had been thwarted "for now" -- but stressed he would not give up adding that he would not "change one comma" of his plan.

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