Venezuela's triumphant opposition faces long road

By Brian Ellsworth

CARACAS (Reuters) - Bigger and bolder, Venezuela's opposition has gained on President Hugo Chavez for the first time in years with a vote win that stops him grabbing new powers but it has a long way to go to halt his socialist revolution.

Opposition groups scored a David-versus-Goliath victory in Sunday's referendum on a string of reforms that would have allowed the anti-U.S. leader to stand for reelection indefinitely and push ahead in his assault on capitalism.

It was Chavez's first defeat at the polls since he swept to power in 1998, and a succession of politicians basked in their triumph on Monday with long televised speeches in praise of Venezuelans' democratic spirit.

But Chavez still has firm control over the military, Congress and the OPEC member's state oil company, and the opposition newspaper Tal Cual was quick to point out how daunting a task it will be to make him change course.

"We have so far to go my friend, so far to go," read a political cartoon that showed two ragged, thirsty men trudging through a barren desert.

Although Chavez activated a powerful, state-backed electoral machine in support of his reforms, the "No" camp narrowly won with 51 percent of the vote.

Now the loose coalition of political parties, university students and civic groups will try to put aside old rivalries, agree on a leadership and develop a political platform to challenge the former paratrooper.

"There is political capital, human capital in this vote that we should use to get organized," Ricardo Sanchez, a student leader, said on Monday.