The governing conservative People’s Party of Prime Minister Mariano Rajoy remains the largest party but fell well short of a majority.
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Socialist leader Pedro Sanchez said Monday that Rajoy’s Popular Party had the first option to try to form a government, but noted that Spain was “entering a new political phase”, the Associated Press reported.
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Analysts said the outcome will make it extremely hard for the Popular Party to form a coalition or get voted into parliament as a minority government because it does not get enough seats by allying only with Ciudadanos, its closest possible ideological partner.
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The PP won 123 seats in the election, with 29% of the vote, leaving them far from a majority in the 350-seat legislature.
The PSOE followed with 90 seats and 22 percent of the vote, then Podemos with 69 seats and almost 21 percent, and finally the centrists Ciudadanos with 40 seats or nearly 14 percent.
Two newcomer parties burst onto the scene, capitalizing on many voters’ disenchantment with high unemployment, constant corruption cases and the country’s political status quo.
That sort of combination could lead to a government that would try to roll back highly unpopular austerity measures imposed over the last four years by Prime Minister Mariano Rajoy.
“This could in turn weigh on business investment in particular_precisely at a time when the Spanish economy is becoming increasingly reliant on domestic demand to fuel the recovery”, it added.
Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. “I don’t want them to be separated from Spain but I defend the referendum”, he said, hailing the birth of “a new Spain”.
The surprise surge by Podemos – the latest of several strong showings by populist parties in European elections – gives it an influential role in coalition talks.
Rivera also said a left-wing coalition that could consist of up to 11 parties would not be viable.
But school teacher Maribel Martinez, who voted for the Popular Party, was petrified that Spain could descend into political chaos with no stable government for months or an administration run by left-of-centre and left-wing parties bent on reversing what Rajoy spent four years accomplishing. If the candidate is not immediately successful, parliament has two months to elect a prime minister or call a new election. All three parties have ruled out such alliances.
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If no one can form a government, new elections will likely have to take place early next year, but there is no indication any clearer result would happen.
