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Venezuela: Opposition celebrate as ruling PSUV loses control of Venezuelan Parliament02:26

Venezuela: Opposition celebrate as ruling PSUV loses control of Venezuelan Parliament

Venezuela, Bolivarian Republic of, Caracas
December 7, 2015 at 06:49 GMT +00:00 · Published

Centre-right Democratic Unity Roundtable (MUD) party members and supporters celebrated long into the night on the streets of Caracas, Sunday, after the Venezuelan opposition party won the majority of seats in the Venezuelan National Assembly defeating the ruling party of Nicolas Madura.

Opposition supporters celebrated on the streets with opposition activists calling for an "irreversible" change in the direction of the country. In contrast the atmosphere of the supporters of the ruling United Socialist Party of Venezuela (PSUV) was much more quiet and somber, with only few people attending.

The MUD won a total of 99 seats in the Venezuelan National Assembly with ruling PSUV party picking up just 44 seats, bringing about a swing to the right from the left-wing party of former Venezuelan President Hugo Chavez.

While Western governments have spread fear over Venezuela's electoral process, the country's vote counting system has been internationally hailed in the past for being one of the most secure in the region. Its notoriety comes mainly due to the widespread implementation of electronic voting machines. Maduro has also committed to accepting the results of the December parliamentary elections whether his party keeps its majority or not, after pledging to accept the results in October. The country's opposition have refused to make a similar pledge.

The elections come as Venezuelan opposition parties capitalise on the country's economic recession. With almost a 200 percent inflation rate, the country's economy has shrunk by 8 percent this year, with the economic downturn linked to falling oil prices, Venezuela's main export, as US shale oil saturates the global market. Private companies taking advantage of state enforced preferential exchange rates have also be associated with the growing inflation rate as cheap imports flood the Venezuelan market.

Venezuela: Opposition celebrate as ruling PSUV loses control of Venezuelan Parliament02:26
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Centre-right Democratic Unity Roundtable (MUD) party members and supporters celebrated long into the night on the streets of Caracas, Sunday, after the Venezuelan opposition party won the majority of seats in the Venezuelan National Assembly defeating the ruling party of Nicolas Madura.

Opposition supporters celebrated on the streets with opposition activists calling for an "irreversible" change in the direction of the country. In contrast the atmosphere of the supporters of the ruling United Socialist Party of Venezuela (PSUV) was much more quiet and somber, with only few people attending.

The MUD won a total of 99 seats in the Venezuelan National Assembly with ruling PSUV party picking up just 44 seats, bringing about a swing to the right from the left-wing party of former Venezuelan President Hugo Chavez.

While Western governments have spread fear over Venezuela's electoral process, the country's vote counting system has been internationally hailed in the past for being one of the most secure in the region. Its notoriety comes mainly due to the widespread implementation of electronic voting machines. Maduro has also committed to accepting the results of the December parliamentary elections whether his party keeps its majority or not, after pledging to accept the results in October. The country's opposition have refused to make a similar pledge.

The elections come as Venezuelan opposition parties capitalise on the country's economic recession. With almost a 200 percent inflation rate, the country's economy has shrunk by 8 percent this year, with the economic downturn linked to falling oil prices, Venezuela's main export, as US shale oil saturates the global market. Private companies taking advantage of state enforced preferential exchange rates have also be associated with the growing inflation rate as cheap imports flood the Venezuelan market.

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