23.05.2011 - 11:23 [ fxstreet ]

European Crisis: Massive blow for Spain‘s ruling party clouds Euro outlook

The disastrous outcome out of Sunday‘s regional elections was the first real test Spanish socialist PM Jose Luis Rodriguez Zapatero had to face post-crisis era. “Applauded abroad for his fiscal discipline but unpopular at home as the economy stagnates” reads a Reuters quote, the scarcity of votes suggests he has categorically failed on managing the crisis.