Spain: En route to a minority government – ING

Steven Trypsteen, economist at ING, points out that in recently concluded Spanish elections, the biggest winner was the far-right Vox party as they won 52 seats, becoming Spain’s third-largest party.

Key Quotes

“The Partido Popular (PP) also gained more seats increasing their share from 66 to 88.”

“The centre-right party, Ciudadanos were the biggest losers last night as they lost seats 47 seats coming down from 57 to just 10. Spain's far-left Unidas Podemos party also lost seats. It now controls just 35 seats, compared to 42 previously. This loss is partly due to the split with Más País (green-left and radical left) who gained two seats.”

“Spain's governing Socialists (PSOE) remains the largest party as it gained 120 seats compared to 123 in April.”

“In terms of seats, the power of the main Catalan parties hasn't changed much compared to the previous elections (Republican Left of Catalonia-Sovereignitists loses 2 seats and so now controls 13 seats and Together for Catalonia-Together gains one and so now controls 8 seats).”

“The two Basque parties: the Basque Nationalists and the Basque Country Unite gained one seat each.”

“The results haven't made us change our view. The political situation remains difficult, but the pressure to find a solution after four elections has risen.  A minority government led by the PSOE remains the most likely outcome.”