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5/23/11

Spain's ruling Socialists suffer big election loss

Spain's ruling Socialist party has suffered a bruising defeat to conservatives in the municipal leg of elections and looked headed to suffer big losses in regional government races as well.

Interior Minister Alfredo Perez Rubalcaba congratulated the conservative opposition Popular Party for its "win by an ample margin" in the local elections held nationwide.

The ministry website said that with 91 percent of the votes counted in the nationwide municipal vote, the Popular Party had almost a 10 percentage point margin of victory.

For more: Spain's ruling Socialists suffer big election loss - BusinessWeek

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