Chavez loses constitutional vote

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CARACAS, Dec 03 (AP): Humbled by his first electoral defeat ever, President Hugo Chavez said Monday he may have been too ambitious in asking voters to let him stand indefinitely for re-election and endorse a huge leap to a socialist state.
"I understand and accept that the proposal I made was quite profound and intense," he said after voters narrowly rejected the sweeping constitutional reforms by 51 per cent to 49 per cent.
Opposition activists were ecstatic as the results were announced shortly after midnight - with 88 per cent of the vote counted, the trend was declared irreversible by elections council chief Tibisay Lucena.
Foes of the reform effort - including Roman Catholic leaders, media freedom groups, human rights groups and prominent business leaders - said it would have granted Chavez unchecked power and imperiled basic rights.