Markets

Spain Ousts PM in Spread of Panic

Spain Ousts PM in Spread of Panic

(Madrid)

In what seems to be a spread of European unrest, Spain's Parliament voted today to remove the country's PM, Mariano Rajoy, who has been in power for seven years. While the reasons for his ouster are very different than in Italy, the move will add pressure to a European continent that is plagued by political unrest. Rajoy's party was plagued by a corruption scandal, which seems to have ultimately undone the PM. He will be replaced by a PM from the Socialist party.

FINSUM : The worry we have here is that the socialist party may undo a lot of the budgetary gains that have been made during austerity-not totally dissimilar to Italy in effect. Then again, at least they are not Euro sceptics.

  • Spain
  • socialists
  • corruption
  • europe
  • EU
  • euro

    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

    Stocks

    Latest Markets Videos