Voters make their choice in Spain

We are going to see greater volatility at the ballot box in the next year and it will mirror the volatility in the financial markets. The result will be the rise of fringe candidates, but also very high/low results for the major parties. Spain is the first example as the socialist government is dumped for the conservatives.

People's party sweeps to crushing victory over Socialists
With the PP winning 186 of the 350 seats in parliament, 56-year-old Rajoy was given a free hand to carry out sweeping reforms and impose further austerity in an attempt to turn the country around.
In addition to one of the major parties winning an absolute majority and the other suffering its worst defeat ever, fringe parties also advanced:
The Socialists' 110 crop of seats in parliament was their worst result since democracy was restored to Spain at elections in 1977. Among a series of smaller parties to benefit from the socialist collapse was the communist-led United Left party, which increased its number of deputies from two to eleven.

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