Spain’s new government


Spain’s New Government Will Have Limited Market Impact

Today Mariano Rajoy has been sworn in as Prime Minister after Saturday’s investiture session. He obtained a simple parliamentary majority with 170 votes in favour, 69 abstentions, 111 votes against and 1 absentee. So at last the period of uncertainty which had lasted since December 2015 is over.

elecciones generales

No one has won in Spain

JM Martí Font via Macropolis | Spain is not Portugal, although we cannot completely rule it out. Brussels and Frankfurt want Spain to look like Germany. A grosse coalition will reassure the markets, guarantee the prevalence of budgetary orthodoxy and, on the surface, maintain at least the status quo, something very important to the European institutions, the financial powers and the European political class who doesn’t like changes.