Will Spain follow in Greece’s footsteps?

0
Stefan Baudy Flickr

IT seems left wing parties are now holding the balance in power in Spain, as the two primary parties, PP and PSOE, who have dominated for more than 40 years struggle to hang on.
Comparisons to Greece are now starting to arise, as the elections continue to unfold.
The support for newly formed groups, who can in fact now hold the traditional parties to ransom as they try to form a ruling coalition, has rocked these regional and municipal elections. In major cities, like Madrid and Barcelona, it’s the organisations advocating a new style of politics who have the upper hand.
The Spanish general election is due in November and it seems quite possible that the country could take a radical move to the left, similar to that of Greece.
Greece’s radical Syriza government has repeatedly said they would prioritise the payment of wages and pensions over meeting repayments of their International Monetary Fund loan. Their face-off with the financial giant has sent the money markets into a spin this week, which has seen the euro drop against the dollar.




LEAVE A COMMENT

Please enter your comment!
Please enter your name here