Observing stock papers
Markets

Spain faces political uncertainty but euro unfazed for the moment

Yesterday's Spanish election result has seen PM Rajoy returned but with a vastly reduced majority

Anti-austerity party Podemos and liberal Ciudadanos made big gains as the conservative Popular Party (PP) lost its majority.

The PP had 28.72% of the vote, the Socialists 22.01%, Podemos 20.66% and Ciudadanos 13.93%.

Says Podemos leader Pablo Iglesias.

"Spain is not going to be the same anymore and we are very happy"

PP leader Mariano Rajoy said he would try form a government:

"This party is still the number one force in Spain."

But Mr Rajoy admitted that his party had taken some " difficult and even unpopular decisions " over the past four years as Spain struggled through an economic crisis.

Socialist leader Pedro Sanchez said his party was ready to start negotiations.

"Spain wants a move to the left"

The BBC has more here but what do our Spanish readers make of it all ?

Spanish bonds have felt a bit of impact and yield differentials with bunds/others have been widening but so far the euro is in wait and see mode as far the election fall out is concerned

One to watch as the process unfolds

Rajoy- Now with a fight on his hands after Spanish election

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

ForEx

Latest Markets Videos