Monday, 21 November 2011

Euro Crisis: Spanjards de-elect government

MADRID (RP) The government of Spanish Prime Minister José Luis
Rodríguez Zapatero is the fifth, which is this year fell on the euro
and financial crisis or deselect. His Socialists suffered a historic
defeat. In June, lost in the heavily indebted Portugal, the socialist
José Sócrates, the election in October cost the dispute over the euro
rescue the Slovak Prime Minister Iveta Radičová the majority in
parliament and in November took over in Greece and Italy transitional
governments, the business of George Papandreou and Silvio Berlusconi.

After counting the votes of 77 percent in Spain, given the
conservative Popular Party Mariano Rajoy, PP of 44 percent and thus
the absolute majority. The Socialists came in the early elections to
29 percent. The election campaign was mainly determined by the
unemployment. The ratio of more than 21 percent, the highest in the
EU. Many people accused the Socialist government to have implemented
reforms such as cuts in salaries and benefits too late.

The 56-year-old Rajoy is expected to take over power in December. But
it is expected that soon he set out his plans. Spain is under pressure
from the financial markets, because the interest rates on government
bonds last snaking on the mark of seven percent. This threshold is
considered critical. Spain is in proportion to its gross domestic
product, however, still less in debt than Germany.

Stood for election in Spain 350 MPs and 208 senators. The Socialists
had done, Alfredo Pérez Rubalcaba in the election. Prime Minister
Zapatero, after six years in office no longer taken up.

Between the Conservatives and the Greek international creditors of the
country there is further dispute over the payment of the outstanding
loan from the billion-euro rescue package. At a meeting with
representatives of the International Monetary Fund, the European
Central Bank (ECB) and the EU refused to allow the head of the New
Democracy party, Antonis Samaras, a written statement in support of
further reform. The verbal agreement is sufficient. His party is
involved in the transitional government under former ECB deputy Lucas
Papademos.

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