All eyes on Spanish elections

26 June 2016
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In the wake of the ‘Brexit’ the world is watching as the Spanish citizens will be going to the ballot booths, Sunday, for a second time in 6 moths to elect a new government. With global markets still reeling after the UK referendum ‘bombshell’, there are fears that a victory of the alliance between leftist ‘Podemos’ party and the socialists could exacerbate the already shaky global economic climate. The Spanish will be called upon to break the political deadlock, as the pervious December elections failed to produce a stable government. The latest polls show that a prospect of any party winning absolute majority is highly unlikely, thus prolonging political uncertainty in the country. The markets are anxious to see whether the Spanish voters will opt for a conservative government or choose the route of a radical left coalition government composed of Podemos and the socialists, the latter prospect creating a clear feeling of volatility around the globe.

According to the latest polls in Spain that were conducted before the Brexit result, no party will gain a majority, as the Poplar party of Mariano Rajpy leads with 28.2 per cent, the socialist party comes in second with 21.7 per cent, with United Podemos slipping to 3rd spot (21.7), followed by the ‘Citizens’’ party with 15.2 per cent. Many analysts believe the United Podemos left alliance could win enough seats to form a coalition government with the socialists in the next parliament

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