Center-right in Spain wins captaincy of the Titanic

OK, OK - maybe just a little exaggeration. After all, even though Spain's economy is too big to bail out, and yields on their bonds are becoming unsustainable, why should that mean that the Popular Party (I always wanted to belong to that Party in high school) is doomed to preside over a meltdown?

BBC:

With almost all the votes counted, the PP, led by Mariano Rajoy, is assured of a clear majority in the lower chamber.

The Socialist Party, which has governed Spain since 2004, has admitted defeat.

Mr Rajoy, who is expected to tackle the country's debts amid slow growth and high unemployment, said he was aware of the "magnitude of the task ahead".

He told supporters there would be "no miracle" to restore Spain to financial health, and that the country must unite to win back respect in Europe.

"Forty-six million Spaniards are going to wage a battle against the crisis," said the 56-year-old PP leader.

The PP won about 44% of the votes and the Socialists 29% in Sunday's election, according to near-complete official results.

The PP is expected to take about 186 of the 350 seats in the lower house.

That hard truth is that no party in Spain can make the cuts that are necessary, or reform the system as it should be to save the nation from a very hard fall. Rajoy seems a decent sort of fellow with zero charisma and no proven ability to lead. Whether he can find it within himself to save what he can of the Spanish economy and bring his nation to a soft landing are questions that will be answered sooner rather than later.



OK, OK - maybe just a little exaggeration. After all, even though Spain's economy is too big to bail out, and yields on their bonds are becoming unsustainable, why should that mean that the Popular Party (I always wanted to belong to that Party in high school) is doomed to preside over a meltdown?

BBC:

With almost all the votes counted, the PP, led by Mariano Rajoy, is assured of a clear majority in the lower chamber.

The Socialist Party, which has governed Spain since 2004, has admitted defeat.

Mr Rajoy, who is expected to tackle the country's debts amid slow growth and high unemployment, said he was aware of the "magnitude of the task ahead".

He told supporters there would be "no miracle" to restore Spain to financial health, and that the country must unite to win back respect in Europe.

"Forty-six million Spaniards are going to wage a battle against the crisis," said the 56-year-old PP leader.

The PP won about 44% of the votes and the Socialists 29% in Sunday's election, according to near-complete official results.

The PP is expected to take about 186 of the 350 seats in the lower house.

That hard truth is that no party in Spain can make the cuts that are necessary, or reform the system as it should be to save the nation from a very hard fall. Rajoy seems a decent sort of fellow with zero charisma and no proven ability to lead. Whether he can find it within himself to save what he can of the Spanish economy and bring his nation to a soft landing are questions that will be answered sooner rather than later.



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