With 53% of the votes the Venezuelan opposition has managed to secure 112 seats in the National Assembly. This gives them a sweeping two third majority and wide ranging powers. Drunk with victory and seething with revenge, they have started to announce plans to reverse every single one of the gains of the Bolivarian revolution. This has provoked ferment amongst the revolutionary rank and file, which at the same time is directing part of their anger at bureaucrats and reformists within its own ranks.

Late into the night on 6th December, the Venezuelan National Electoral Council announced provisional but conclusive results for the parliamentary election. The counter-revolutionary opposition MUD had won 99 seats to the Bolivarian PSUV’s 46, with another 22 remaining to be allocated. This is a serious setback and it is our duty to analyse the reasons and explain the likely consequences.

Venezuelans will go to the polls on December 6 to elect deputies to the National Assembly. A combination of factors have made this one of the most difficult challenges the Bolivarian Revolution has faced in the 17 years since President Chávez was first elected in 1998. In addition to the usual challenges of a profoundly undemocratic opposition and belligerent imperialist provocations we have to add a combination of national and international economic factors which have put Venezuela in a very tight spot and which lead to one conclusion: either the revolution is completed, or it will be defeated.

In this article we will be analysing the objective conditions which led to the emergence of SIMADI and the currency exchange controls in general, which since their implementation have been unable to reach their stated objective of preventing capital flight.

One wonders how many mistakes, glaring omissions and biased statements can one fit in just two paragraphs of just 88 words. When it comes to Venezuela, the answer is, a lot. On Friday, 27 of March, the Guardian published a piece called Democracy behind bars: 11 opposition leaders facing jail or death”, which was “sponsored by Crown Agents”. First in the list of 11 “democratic opposition leaders” facing jail or death around the world is Venezuela’s Leopoldo Lopez.

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