MADRID — Spanish Prime Minister Mariano Rajoy is poised to fall from power after a corruption scandal dealt a blow to a leader whose support has gradually been eroded by unpopular measures he imposed to avert Spain’s economic collapse during the eurozone’s debt crisis.
Rajoy’s fate appeared to be sealed after a key parliamentary ally announced plans to vote against the prime minister in a vote of confidence slated for Friday.
Read: Italian tremors foreshadow more pain in next market panic as central banks retreat[1]
Rajoy, one of Europe’s longest-serving current leaders, is likely to resign or to be replaced within days by the leader of the center-left Socialists, who have seized on a corruption scandal that has racked the prime minister’s center-right Popular Party.
The political crisis also greatly increases the chance that general elections will be held ahead of when they are scheduled in 2020.
An expanded version of this report can be found at WSJ.com[2]
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References
- ^ Italian tremors foreshadow more pain in next market panic as central banks retreat (www.marketwatch.com)
- ^ An expanded version of this report can be found at WSJ.com (www.wsj.com)
- ^ Tech’s titans tiptoe toward monopoly (www.wsj.com)
- ^ Deutsche Bank’s U.S. operations deemed troubled by Fed (www.wsj.com)