Venezuelan President Nicolas Maduro has warned of a "great conflict" if his political party does not overcome the setback of losing the recent parliamentary polls.
"Either we get out of this jam by means of the revolution or Venezuela is going to enter a great conflict that will affect the whole Latin American and Caribbean region," Maduro told a crowd of supporters rallying near his presidential palace in the capital Caracas.
"I am calling for a critical revolutionary debate," Maduro said. "I am willing to lead a radical revolution."
On Tuesday, Maduro ordered his ministers to resign so he can reshuffle the government. The order came after legislative elections on Saturday gave the opposition Movement for Democratic Unity, known as the MUD by its Spanish name, 112 of the 167 seats in the National Assembly.
The electoral victory ended Maduro’s Socialist party’s 16-year control of the parliament, which had begun when former President Hugo Chavez came to power.
President Maduro was elected in April 2013 to a six-year term after the death of his predecessor Chavez.
Under Venezuela's constitution, the president only has a limited veto power, which means he can send laws back to the National Assembly, but the latter can override the veto with an absolute majority.