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Free AccessLack Of Majority For Centre-Right Means Political Uncertainty Ahead
Spain’s centre-right PP has received the most seats in Sunday’s election but even if it forms a coalition with right-wing Vox, they still won’t have a majority which increases the chance of new elections before the end of the year. PP was expected to win but polls had always indicated that it wouldn’t gain a majority on its own. PP leader Feijoo has said he will aim to form a new government.
- The centre-right PP looks to have won 136 seats up from 89 in 2019 with about 92% of the vote counted, according to the BBC. Right-wing nationalists Vox are set to get 33 seats down from 52, and less than polls predicted. A coalition between the two, which would be controversial, would be 7 seats short. Even if the Catalonian Junts abstains, that won’t be enough. Smaller parties are likely to make it difficult for a minority government of the right too. Nationalists haven’t been part of the government since the end of Franco’s regime.
- PM Sanchez’ Socialists came in second with 122 seats up from 120 but his coalition partner Sumar gained 31 down from 38 but he has said that the right has “failed” and been defeated.
- The two main parties from the left and right had dominated politics until recent years when smaller parties received more support, thus coalitions are relatively new in Spain and have been difficult to form.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.