The Bolivarian Revolution is at one of its lowest points since President Chávez’s electoral victory in 1998. On top of the defeat in the December 2015 National Assembly elections, the aggravation of the economic situation is impacting the mass of the working people—who are the base and support of the revolution. It is time to draw a serious balance sheet.

The resounding victory for Pablo Iglesias and his list of candidates at the recent Podemos congress, the National Citizens’ Assembly, marks an important development for millions of workers and youth in Spain. At the same time, it represents a defeat for the ruling class, who hid behind the right-wing stance of Íñigo Errejón.

After years of stagnation and struggle under the “Socialist” government of Hollande in France, the establishment parties have been completely discredited and the situation has grown into a full-blown political crisis. The next presidential election, taking place in the next few months, is set to be the most unpredictable in generations.