Spanish PM’s win fuels bailout hopes

Spain’s People’s Party has won 41 out of 75 seats in the Galician area of the regional elections, potentially paving the way for Prime Minister Mariano Rajoy to request a bailout


With the elections out of the way, the government may request a bail-out from the EU; though there is yet to be a definite sign of this.

Although the Spanish government hailed the victory as a backing of their economic plan intended to combat the growing recession, the government’s support is slipping elsewhere.

The People’s Party lost 11 percent of the vote in the Basque country of Northern Spain, conceding to the Basque Nationalist Party (PNV) with 27 seats.

The Bildu party took 21 seats, in the election and they are expected to form a coalition with PNV in order to push for a referendum on independence from Madrid.

Further regional elections will be held in Catalan in coming weeks, where there is also growing support for independence.

Spain’s economy is in the midst of a deepening recession, sparked by the 2008 global financial crisis and the bursting of the housing bubble.

One in four are currently unemployed, igniting protests against public spending cuts.