August 19, 2016    1 minute read

Spain Closer To Forming Government

   August 19, 2016    1 minute read

Spain Closer To Forming Government

Acting PM Mariano Rajoy closer to forming a government after agreement with Ciudadanos.

Editor’s Remarks: Spain has not had a government since their elections in June with no party winning a majority or agreeing to govern together. The leading People’s Party (PP) has now agreed terms with one of the smaller parties, Ciudadanos, but still will not reach enough seats to create a majority. Spaniards hope that Rajoy can quickly end the wait, force another agreement or abstention and form a government so that he can focus on the Spanish economy. Spain will want to avoid further pressure or even fines from Brussels for not reigning in its expenditure with its debt reaching a 100-year high as of yesterday, around 100.9% of Spain’s output.

What to watch: PP, PSOE, Spanish Public Debt, Spanish GDP

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