Photo from the mass protests in Chile that forced the constitutional elections -- Photo via twitter
In an historic turn for Chile voters have repudiated the right and the forces who wished to preserve the neo-liberal 1980 constitution of the Pinochet dictatorship.
The right and supporters of the terrible legacy of Pinochet needed to win one-third of the seats in the election of a constitutional constituent assembly to have veto power over any attempt to rewrite it and change its clauses. In what is seen as a surprise, they failed to achieve this.
The elections were forced by a months long mass uprising in Chile that began in October 2019 and that saw widespread police brutality and state violence.
Candidates of the right-wing Vamos por Chile list backed by the governing party and President took only 36 of 155 seats in the assembly.
Meanwhile, the Communist led Frente Amplio took at least 27 seats and the social democratic Apruebo Dignidad took 25. Left independents took at least 48.
In another upset 30 year old "Irací Hassler of the Communist Party of Chile has been elected Mayor of the Santiago borough in the country’s capital city, Santiago" defeating the right wing incumbent.
Daniel Jadue, leader of the Communist Party and the party's presidential candidate won a landslide victory being reelected as mayor of Recoleta with over 60% of the vote.
This has put the capitalist class in something of a panic with Bloomberg reporting that:
Chilean assets plunged after the ruling coalition suffered a surprise drubbing in the election for a constituent assembly, placing the writing of a new charter firmly in the hands of the left-wing.
The benchmark stock exchange closed down 9.3%, the biggest decline since the start of the pandemic in March of last year, while the peso fell 2.3%. Yields on Chile peso bonds due in 2030 jumped 22 basis points to 3.82%.
They sense that the neo-liberal horror show profit party in Chile may be over.
Further readings: