Venezuela's Chavez wins Presidential election

(Vatican Radio) Hugo Chavez has won re-election for a third time to earn himself six more years to further the scope of his socialist policies. With more than 90 percent of the votes counted Hugo Chavez has a slightly more than nine percent lead over Henrique Capriles, so in a first past the post electoral system, he's effectively won.

First elected in 1999, he's used a generous portion of Venezuela's oil revenue billions, to fund social programs for the poor who've turned out time and again to vote for him.

Polls prior to this Election, put Hugo Chavez about ten points ahead of Henrique Capriles, and he's largely and stoutly maintained that lead.

Chavez now had an empowering mandate to set further reforms in motion to accelerate the pace of his self styled Bolivian Revolution.

The oil industry might well have a radical shake up, while banking, social services, health and housing could well come under his scrutiny.

Hugo Chavez recently said he'd prefer to see Barack Obama re-elected, rather than Mitt Romney win, in the upcoming US Presidential Election. Neither of those two said they'd prefer him to win, rather than Henrique Capriles. But now it's a fact anyway. Listen to this report by James Blears