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New constitution for Venezuela
The assembly spent three months debating the issue |
By Central America correspondent Peter Greste
Venezuela's constitutional assembly has finished drafting a new body of laws after months of controversial debate.
The assembly has effectively dismantled every branch of government and the judiciary since its election three months ago, pledging to replace them with the world's most advanced constitution.
Voters are expected to accept the draft in a referendum next month, despite fears from critics that it will create an authoritarian state and frighten away investors.
The old system was blamed for squandering the nation's vast oil wealth and for creating one of the world's most corrupt and inefficient governments.
The new constitution is a key part of reforms promised by President Chavez |
Supporters of President Hugo Chavez, who masterminded the new document, say it is a modern draft which is a major step towards rebuilding democracy.
But the critics say it is badly written and unwieldy. They believe it concentrates too much power in the presidency and that it creates an unworkable economic system.
Among its key articles are an extension of the presidential term from five to six years, and the right for the leader to run for immediate re-election.
The document scraps the senate that creates the post of vice president, and it gives the military greater autonomy.
Pensions for the poor
It also tightens state control of the strategic oil industry, limits the central bank's autonomy and guarantees a state pension for all.
Economists and businessmen are worried about these last provisions.
One independent analyst, Michael Rowan, said the constitution guarantees that the state will support the poor, but that it doesn't give it the means to pay.
He also said it is a return to the days of state-run economies that will scare off foreign investors and stifle economic growth.
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See also: |
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05 Nov 99 | Americas |
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Venezuela votes to extend presidency |
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04 Nov 99 | Crossing continents |
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Venezuela's quiet revolution |
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27 Aug 99 | Americas |
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Analysis: Popularity based on reform promise |
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27 Aug 99 | Americas |
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Chavez: Hero or demagogue? |
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06 Aug 99 | Americas |
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Venezuelan president demands longer term |
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25 Jul 99 | Americas |
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Venezuelans back Chavez |
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Venezuela Online - Venezuelan links |
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Congress of Venezuela |
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