The elections being held today, October 7, 2012, in Venezuela are of immense historical significance. The results of this election will have a crucial impact not just in Venezuela and Latin America but far beyond its frontiers, on the consciousness of the masses and the dynamics of the class struggle. It is neither an accident nor a coincidence that there has been an enormous interest and attention in the outcome of these polls by the experts and strategists of the western imperialist world ruling elites and its media.

In the last few days the campaign of provocations and pressure on the part of US imperialism against the revolutionary process in Venezuela has intensified. Leading US administration spokespersons have made statements, putting pressure on the National Electoral Council (NEC) to rule in favour of the opposition in their effort to call a presidential recall referendum. The Venezuelan government has denounced publicly this growing foreign intervention. Evidence has also been uncovered that the opposition organisation which coordinated the collection of the signatures, SUMATE, has received funding from the US National Endowment for Democracy, together with a whole host of other opposition

The presidential election due on October 7 represents a decisive moment in the history of Venezuela. The outcome of this election will have a major impact throughout the continent and internationally. It goes without saying that the Hands Off Venezuela campaign is actively supporting the Bolivarian candidate Hugo Chavez and fighting against any attempt of the oligarchy and imperialism to sabotage the elections. The IMT stands firmly for the re-election of Hugo Chávez. Why have we taken this position?

For all revolutionaries it is perfectly clear that 2012 will be a defining year of important challenges. Currently, the Bolivarian revolution is at a cross-road. Either we radicalise the revolution and we deepen its changes, or the reformist politics which seek to simply regulate capitalism, as opposed to eliminating it, could lead the revolution to suffer a dangerous defeat in both the long and medium term.

Ten years after the defeat of the coup in Venezuela by the revolutionary mobilisation of the masses it is worth looking back at the forces that were behind the coup, the reasons why it was defeated and what happened afterwards, as those events hold the clue to the class dynamics of the Venezuelan revolution.

On Sunday February the 12, the long-awaited opposition primary elections took place in order to select the candidate who will face Hugo Chavez in the presidential elections due for October this year. Cápriles Radonski, the present governor of Miranda state won a clear victory with 62% of the vote, compared to only 28.9% for his contender Pablo Perez, present governor of Zulia state.

My visit to Venezuela at the end of June coincided with the speculation, rumours and finally announcements about the health of Hugo Chavez. This incident revealed a number of important questions about the Venezuelan revolution, the role that President Chavez plays in it and the character of the counter-revolutionary opposition.

While I was in Venezuela a number of comrades asked me about some manifesto against “Chavez's attacks on trade union rights” and also about the controversy over a letter Noam Chomsky had signed which the bourgeois media had used in their campaign in defence of “human rights” in Venezuela.

As part of my recent trip to Venezuela I was invited to speak about the world crisis of capitalism and the class struggle in Europe at two meetings of PDVSA oil workers in Monagas, in the east of the country. One of the meetings took place in Maturín, the capital of the state and where the PDVSA management for the Eastern Region is based, and the other one in the PDVSA installations in Punta de Mata, a city built around a massive oil field.

At the end of June I had the opportunity of visiting Venezuela where I attended the national conference of “Class Struggle” (Lucha de Clases), the Venezuelan section of the International Marxist Tendency. What I witnessed is an increased polarisation between left and right, but above all an open clash between the revolutionary wing of the Bolivarian movement and the reformists and bureaucrats. In a series of articles I will attempt to illustrate this.

On the 21^st of May, a spectacular meeting of more than 900 worker activists took place at the SIDOR steel works in Ciudad Guayana in the eastern part of Venezuela. The purpose of this encounter was to discuss the ongoing struggle for workers' control in the Bolivarian Revolution.

On Tuesday May 25, the US imposed penalties against Venezuelan state-owned company PDVSA, and another 6 companies from other countries, for conducting business with Iran.  The sanctions are part of an attempt by Washington to step up the pressure against Iran in relation to its nuclear program. They are also an act of blatant bullying directed against Venezuela.

The arrest in Venezuela of Colombian political refugee Joaquín Pérez Becerra and his hand over to the Colombian authorities by the government of president Chávez has raised deeper questions about the strategy of the Venezuelan revolution.

On Friday 10^th of December, Venezuelan President Hugo Chávez publicly asked the PSUV deputies in the National Assembly to pass a new Enabling Law, giving him power to take rapid action, faced with the natural disaster caused by the heavy rainstorms, which have left around 100,000 Venezuelans homeless.

Two months have passed since Venezuela's legislative elections on September 26, which gave a marginal victory to the forces of the revolution in the total vote and a 98-67 majority in terms of seats in the new National Assembly which will be installed in January. What lessons are being learnt from that experience?