Source:
Reuters(Reuters) - Venezuela's parliament gave President Hugo Chavez decree powers for 18 months on Friday, outraging opposition parties that accused him of turning South America's biggest oil producer into a dictatorship.
The move consolidated the
firebrand socialist leader's hold on power after nearly 12 years in office, and raised the prospect of a fresh wave of nationalizations as the former paratrooper seeks to entrench his
self-styled "revolution."Chavez had asked for the fast-track powers for one year, saying he needed them to deal with a national emergency caused by floods that drove nearly 140,000 people from their homes.
But the Assembly, which is
dominated by loyalists from his Socialist Party, decided to extend them for a year and a half.
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http://www.reuters.com/article/idUSTRE6BG69720101217
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