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12/26/15

Spain: Another Election in Early 2016? - Holger Schmieding

Do Spaniards want more reforms – or do they want to reverse some of the reforms that have helped to put the Spanish economy back on track? At the national election on Sunday, Spanish voters gave no clear answer.

Instead, uncertainty now reigns supreme in Madrid. Forming a new government will be tricky, finding a coalition that could last a full four-year term could be quite difficult indeed.

While much is at stake for Spain, the risk that any new government in Madrid could adopt policies that would jeopardize Spain’s place in the euro still looks small.

Roughly in line with the most recent opinion polls, Prime Minister Rajoy’s conservative Popular Party (around 29%) and the opposition Socialists (22%) lost as many votes as expected.

After a harsh adjustment crisis and allegations of sleaze against these two traditional parties that had dominated Spain for the last few decades, many voters turned to two upstart protest parties.

Read more: Spain: Another Election in Early 2016? - The Globalist

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