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21 Dec 2015
Spain: Inconclusive elections led to rise of political concerns - BBH
FXStreet (Delhi) – Research Team at BBH, notes that Spain’s inconclusive weekend elections have led to heightened political concerns.
Key Quotes
“Rajoy’s People’s Party lost a third of its seats, but won the most (123 seats) and has the first shot at forming a coalition government. The Socialists came in second with 90, while anti-austerity Podemos (69) and the Ciudadano party (40) came in third and fourth. There are 350 seats total, with the remaining 28 won by several minor parties.”
“Now begins the horse-trading. By law, the new parliament must be called by January 13, and lawmakers then have two months to form a government. If not, then fresh elections must be called. This uncertainty could weigh on the euro.”
Key Quotes
“Rajoy’s People’s Party lost a third of its seats, but won the most (123 seats) and has the first shot at forming a coalition government. The Socialists came in second with 90, while anti-austerity Podemos (69) and the Ciudadano party (40) came in third and fourth. There are 350 seats total, with the remaining 28 won by several minor parties.”
“Now begins the horse-trading. By law, the new parliament must be called by January 13, and lawmakers then have two months to form a government. If not, then fresh elections must be called. This uncertainty could weigh on the euro.”