Markets are bracing themselves for some turbulent times ahead as they wait to see how effective Spain's newly-elected Prime Minister Mariano Rajoy will be in staving off a bail-out.
Rajoy’s centre-right party Popular Party was swept to power by a record majority on 20th November. He warns voters not to expect miracles in how the country fights its way out of the severe economic crisis, but pledges to win back respect in Europe. Chris Towner, financial analyst at current specialists, HiFX, believes it is good news that Rajoy won an outright majority as this gives him a stronger mandate to implement tough austerity measures. But Towner remains cautious about this new leader being able to solve the huge problems that stand in front of Spain. "His appeal to the fina...
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