Ahead on key turning points in Venezeulan referendum that may extend Chavez’s power

Reuters led the way on coverage of Venezuelan President Hugo Chavez’s referendum victory on Feb 19, which allows him to run for re-election in 2012 and stay in power for as long as he keeps winning elections. Reuters was 17 seconds ahead of both Bloomberg and Dow Jones with the official result and in the final days of the campaign we had exclusive access to opinion polls from Venezuela’s most respected independent polling body showing Chavez first taking a small lead and then building a clear advantage in the final days before the vote. The referendum was important for investors who follow Venezuelas debt and currency. The result bolstered Chavezs mandate for his anti-market policy program for the long-term. But it also meant this year the socialist would be more likely to introduce needed but unpopular fiscal measures because he could expect less resistance from a defeated opposition. Venezuela’s debt and currency strengthened in the days after the referendum as investors bet that Chavez, boosted by the victory, would move to clean up public finances