Last Sunday’s electoral results in Spain have cast a gloomy outlook on prospects for securing a stable government. Markets were deeply disappointed as their bet for a centre-right coalition melted down. Ciudadanos performed worse than expected while Partido Popular scored a win but failed to secure enough support.
MADRID | By Fernando G. Urbaneja | Still digesting their historic-low European election results, the Spanish socialists (PSOE) are trying to recover people’s trust by publishing their accounting in a quarterly report. This is the least that we can ask from parties, trade unions, employers and any others living on the State and the taxpayers. Without passing any law, the PSOE –who lost millions of votes in the last general polls- is taking the lead amid corruption scandals affecting numerous Spanish public figures.
BARCELONA | Joan Tapia| That the Spanish economy grew by 0.4% quarterly in the 1Q14, and by 0.6% yearly is a real green shoot. After several years of recession, GDP is to grow moderately, around 1% in year 2014. However, employment continued falling by 184,000 people, at an annual pace of 0.5%. A slap in the face for those who told the recovery was more intense than expected.