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The Nightmare before Christmas

Spanish election is vote for malaise

Fiona Maharg-Bravo 

Fiona Maharg-Bravo Spanish politics are a mess. The ruling conservatives won the election but fell short of a majority, while the Socialists came in second. Anti-austerity Podemos did better than expected thanks to a savvy campaign. It's far from clear what the next government in Spain will look like. No wonder investors are shooting first by selling Spanish stocks, particularly in regulated sectors. Political pacts will be the order of the day. The problem is that there is no obvious combination that would add up to a majority of 176 seats in Parliament. Many had expected the ruling People's Party ...

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First Published: Mon, December 21 2015. 21:32 IST