Chavez loses vote on new powers in Venezuela

Chavez fails to become Venezuela's Supreme Leader a la Iran's Islamic Republic.
CONGRATULATIONS VENEZUELANS!! (thumbsup)


CARACAS, Dec 2 (Reuters) - Venezuelan President Hugo Chavez lost a tight vote on Sunday in a referendum on giving him new powers and scrapping term limits on his left-wing rule.
The national electoral authority said early on Monday the "No" camp won 51 percent of the vote compared to the pro-Chavez "Yes" camp's 49 percent.
It said the trend could not be reserved and declared Chavez the loser.
The referendum vote on a raft of reforms would have allowed Chavez to run for reelection indefinitely, control Venezuela's foreign currency reserves, appoint loyalists over regional elected officials and censor the media if he declares an emergency.
Chavez has said he wants to rule for life and turn Venezuela into a socialist state. But defeat will likely put the Cuba ally under intense pressure to slow or halt his self-declared socialist revolution and step down when his term ends in 2013.
Chavez called the referendum vote "a photo finish".