Spanish socialist leader to resign after worst-ever results

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“We have not managed to regain the trust of the citizens.

“We have to take political responsibility for the bad results, and this decision is absolutely mine,” leader of Spain’s PSOE opposition, Alfredo Pérez Rubalcaba, said on Monday at a press conference.

His tenure, which lasted less than three years, has not been a smooth path.

“Will Junker’s nomination to lead the EC and stock markets’ indifference/optimism increase discontent in the upcoming national elections?” The Corner’s senior analyst Luis Alcaide wonders.

In Spain, the ruling conservative Popular party won the most seats but it too suffered a drop, from 24 to 16. The Socialists won 14 seats, down from 23 in 2009. It was both parties’ worst result ever.

Although PM Mariano Rajoy is not weighing in, other formations have capitalizad on citizen’s anger about austerity measures and budget cuts promoted in Brussels.

The main surprise was the victory of Podemos (We can), a 4-month-old anti austerity party.

Born from the Indignados (outraged) 15M movement, left-wing party Podemos stunned analysts with 1,245,944 votes, 8% of the total, and capturing 5 seats. It is expected to be an ally of Greek’s Syriza. The Socialist Party has admitted its defeat and says to be preparing for the future. A future that will exclude its current leader Alfredo Pérez Rubalcaba.


About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.

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