Hugo Chavez’s bid to legally change Venezuela’s Constitution so as to make it essentially a tap-in putt for him to seize power permanently has failed. The voters rejected his initiatives despite his controlling of nearly every major media outlet and his ability to stuff ballot boxes.
Chavez was seeking, amongst other things, the lifting of term limits on Presidents, since he is unable to run for reelection when his current term expires.
He has said publicly that he accepts the results of the vote, but rest assured that this is not the last you will have heard on the subject. Expect Chavez to either bring this up again or, more likely, simply attempt to seize power through some sort of “national emergency,” probably a “threat” or “attempt” on his life or some sort of variation of the “Burning of the Reichstag.”
Whatever way he chooses, expect him to choose. Don’t expect Hugo Chavez to let go of power at the end of his term simply because that’s what the people of Venezuela want him to.