Rajoy makes his speech on the Barcenas case and is clear he will not resign

Spanish Prime Minister Mariano Rajoy made his speech in regards to the corruption scandal – the Barcenas case.

He has made it clear he will not be resigning from his post as Prime Minister and he will also not be calling elections. He has however, apologised for the scandal and the mishandling though he has denied that he or any of the members of the party have accepted illegal payments.

Investors have shrugged off the scandal reportedly saying that it has not destabilised the government. This comes as Spain has sold debt more cheaply. The opposition has pursued with intense criticism.

Alfredo Pérez Rubalcaba, the Socialist Party Secretary General was supposedly quoted to have said, “You have not acted as a Prime Minister of a country in crisis. You have acted as chairman of a party that, according to our knowledge, has grown, has existed and has won elections supported by a system of illegal financing for over 20 years.”

Luis Barcenas is the lead in the whole scandal. He is in jail pending trial for bribery and tax evasion. Before the appearance of the Prime Minister, many opposition parties had threatened to call a vote of no confidence.