• 5 hours Gold Is Still Cheap Compared To Stocks
  • 23 hours Are Cryptocurrencies Funding Terrorism?
  • 1 day Promising Oil Companies To Watch In 2020
  • 2 days Could China's Coronavirus Outbreak Impact U.S. Stocks?
  • 2 days Tesla Stock Continues To Soar
  • 3 days What New Economic Data Reveals About Gold's Trajectory
  • 4 days The Lucrative New Tech Hijacking Your Privacy
  • 4 days The Biggest Loser In The China-U.S. Tariff Tit-For-Tat
  • 5 days Trade War Takes Its Toll On Shipping
  • 7 days Is $90 Oil Possible? An Interview With Jay Park
  • 8 days Billions Of Dollars Are Flooding Into The Flying Taxi Space
  • 8 days Is This The Most Important Energy Project Of 2020?
  • 9 days Startups Are Dying To Give You A Better Death
  • 9 days U.S. Restaurants Are Struggling With Rising Labor Costs
  • 10 days The Banking Bonanza Is Just Getting Started
  • 10 days How The Trade War Ceasefire Will Impact The Energy Industry
  • 11 days Who Is The Most Dangerous Person On The Internet?
  • 11 days SoftBank Sees First Quarterly Loss In 14 Years
  • 13 days Prepare For An Oil Glut In 2020
  • 14 days Why A Strong Yuan Is A Promising Sign For The Trade War
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

  1. Home
  2. Markets
  3. Other

Shifting Sentiment in Spain: 2011 vs. 2015; Could an Anti-Euro Party Win the 2015 Spanish National Election?

Maps of municipal elections in Spain in 2011 vs. the recent 2015 elections show a remarkable change in leadership.

Maps of municipal elections in Spain in 2011 vs. the recent 2015 elections

  • PP - Blue - People's Party - Party of Prime Minister Mariano Rajoy
  • PSOE - Red - Spanish Socialist Workers' Party - typically the largest competitor in what was once primarily a two-party system, but is no longer
  • PNV - Green - Basque Country
  • CiU - Yellow - Convergence and Union
  • Podemos - Purple

The alliances are very complex, but note the rise of Podemos (purple).

Also recall that the Podemos "Economic Manifesto" Calls for Debt Restructuring, Spain to Abandon the "Euro Trap".

I believe Podemos has tempered some of those claims (possibly an election ploy), but party leader, Pablo Iglesias, is very close friends with Greek Prime Minister Alexis Tsipras.

For the first time in 24 years, PP did not carry the vote in the Madrid municipal election. Instead, Manuela Carmena, a Podemos-backed, anti-austerity candidate is now Madrid's new mayor.


National Elections This Year

Spanish national elections are this year (on or before December 20), with no date set as of yet.

The most likely dates are purported to be October 25 or a Sunday in November other than November 1, All Saints Day, a religious holy day for Catholics.


Election Outlook

At this juncture it is impossible for any party to get a majority of votes.

So what happens?

Wikipedia reports on 2015 Spanish Election details.

Unlike other neighboring countries' practice, such as Portugal, Greece or Italy, elections in Spain that result in hung parliaments rarely result in coalition governments at the national level. Rather, the party with the most seats has historically formed a minority government with the confidence and supply support of other parties, relying on legislature pacts or, in the event of a party holding a working majority (not absolute but large enough to govern on its own right), ad hoc agreements and/or variable geometry pacts, in order to pass legislation through the Congress.


Opinion Polls

This could get very interesting, especially if Podemos can pull off an upset. And it won't even be that much of an upset according to recent opinion polls.

Rise of Podemos

It's very conceivable that an anti-euro party will find itself in power, in Spain, later this year!

 

Back to homepage

Leave a comment

Leave a comment