Is This the End of the ‘Socialist Dream’ in Venezuela?

An alliance of center-left, centrist and right-wing opposition parties has scored a resounding victory in Venezuela’s parliamentary elections—marking a seismic shift for the country.

Venezuelan opposition supporters celebrate the results of the legislative election in Caracas, on Dec. 7, 2015. Venezuela's opposition won at least a majority of 99 out of 167 seats in the state legislature, electoral authorities said Monday, the first such shift in power in congress in 16 years. Federico Parra/AFP/Getty Images

An alliance of center-left, centrist, and right-wing opposition parties has scored a resounding victory in Venezuela’s parliamentary elections—marking a seismic shift for the country.

Breaking two decades of dominance by the socialist government, the Democratic Unity alliance has won the vast majority of seats, after promising economic and social change.

The government will stay on because President Nicolás Maduro holds executive power, but the sizable majority won by the opposition is a strong signal that a recall referendum could take place in 2016.

The current government has terrible approval ratings, as does President Maduro personally.