A year after he took office on December 21, 2011, many Spaniards would be forgiven for asking: who is Mariano Rajoy? His first 12 months in power have been so full of contradictions that a clear image of the Spanish prime minister is yet to emerge. His conservative Partido Popular (PP) has one of the biggest congressional majorities Spain has seen. And with it, his government has embarked on one of the boldest reform programs of the democratic era, with opponents frequently accusing it of authoritarianism. Yet still Rajoy is seen as hesitant and equivocal, a politician being led by events and EU orders, rather than leading his people. “Mariano Rajoy governs without his own voice, … [Read more...] about Rajoy’s difficult year
spain business
Euro up as Spain, Italy take a stand
That, at least, is the takeaway from yesterday’s EU summit, in which Spain and Italy won significant concessions to keep themselves solvent, only by telling Germany they would block “everything” unless immediate steps were taken to help them. Does it sound professional? No. But insofar as Mariano Rajoy and Mario Monti were desperate, it probably doesn’t matter. Moreover, the panicked tactics of the Spanish and Italian premiers have provided the breakthrough the markets were looking for. On Friday, the euro climbed 1.00% against the pound and US dollar and, compared to the brief rally that followed Spain announcing its bailout, this one looks set to last. “At last,” the markets are saying, … [Read more...] about Euro up as Spain, Italy take a stand
Spain’s election will complete country’s swing to the right
On November 20, the fate of another European leader will be sealed by the ongoing economic crisis. Barring a major surprise, Spain will vote in conservative Mariano Rajoy as its new prime minister, to replace José Luis Rodríguez Zapatero. Zapatero is not running for reelection a second time, instead his Socialist colleague Alfredo Pérez Rubalcaba is the government-backed candidate. But when Zapatero announced earlier this year that he would be stepping aside, there was no doubt that it was the economy that had cut his career short, in the same way it has ended the administrations of Georgios Papandreou of Greece and Italy’s Silvio Berlusconi. With Spain once again exposed to market … [Read more...] about Spain’s election will complete country’s swing to the right