Spaniards gave the People's Party a clear mandate for more austerity against a background of 21 per cent unemployment and one of the highest budget shortfalls in the region.
"We will stop being part of the problem and will be part of the solution," party leader Mariano Rajoy said after the vote. Analysts said they expected Rajoy, who will not be sworn in until December, to move quickly to turn the economy around.
"This could calm markets but until the new government does what it says it is going to do, nothing will change," said Angel Laborda, analyst at Madrid think-tank Funcas.
For more: Debt crisis strikes at heart of Europe - World News - IBNLive
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