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Spanish election Ruling PP wins election, far from majority

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 20, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Bali) - Ruling conservative party 'Partido Popular' won the Spanish elections, however, the seats obtained (122) fell well short of an absolute majority (176 needed), which will make forming a government a difficult task.

    Socialists ended the election day with only 91 seats, while Podemos took 69 seats, followed by Ciudadanos with 40 seats. The big question is how can PP's Rajoy possibly form a govern? While there has been some talk that the ruling party may be backed up by Ciudadanos, that alliance alone would still not be enough.

    Even if another minor party were to unite forces with PP and Ciudadanos, reaching an absolute majority will be hard. Never before a party had won the elections with such a little percentage of the total voting and left so much uncertainty.

    Fernando Garea, from El Pais, notes: "The new Parliament will be a puzzle with more pieces that had the previous one, making it difficult to put together given the incompatibilities in views. The shadow of ungovernability will mark the post-election, as PP needs an agreement with at least two other parties to reach the absolute majority of 176 seats."
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