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Venezuelan President Hugo Chavez announced Sunday he will again seek to change his office's two-term limit so he can seek re-election.
Addressing a rally of his supporters, Chavez -- whose second six-year term expires in 2012 -- said he'd like to run again and perhaps even still be in power in 2021.
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Chavez lost a similar bid last year, when Venezuelans shot down a referendum that would have allowed him to run for a third term in 2012.
That referendum proposed 69 amendments to the 1999 constitution, including one that would have abolished term limits.
Venezuela and others have suggested that Banco del Sur become the IMF of South America. Such an institution would presumably play a significant role in regional monetary policy and provide some form of balance of payments finance.
FOR YEARS, opponents of Venezuelan President Hugo Chávez embraced extreme and counterproductive tactics, ranging from election boycotts to a national strike and an attempted military coup. Yet in the past year -- as Mr. Chávez has accelerated his drive to install a Cuban-style socialist regime -- the opposition has finally found a winning answer: democracy. Last December voters rejected a new constitution that would have greatly increased presidential powers and allowed Mr. Chávez unlimited presidential terms. On Sunday Venezuelans turned out in record numbers for local elections -- and chose opposition candidates for five of the six most important elected posts in the country after the presidency.
Until this week, Mr. Chávez's allies controlled all but two of the country's 23 state governorships, as well as the city halls of the largest cities. Now opposition leaders will govern five states, including the three largest, as well as greater Caracas and Maracaibo, the two biggest cities. Government candidates won in 17 states, including many sparsely populated rural regions. But almost half of Venezuela's population will now look to an elected leader who opposes Mr. Chávez's self-styled "Bolivarian revolution."
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Mr. Chávez deserves some credit for not acting on his threats and for recognizing the opposition victories. The caudillo nevertheless shows no sign that he is listening to the country. "The people are telling me: Chávez continue down the same road," he declared after the results were announced. That road has recently included the nationalization of major industries, huge arms purchases from Russia and heavy subsidies to leftist allies elsewhere in Latin America. The elections showed that urban residents are far more concerned with the soaring crime rates, empty store shelves and accelerating inflation Mr. Chávez has delivered -- problems that appear likely to worsen as the price of Venezuela's dominant export, oil, plummets.