Saturday, November 19, 2011

BLOOMBERG: Spain Set to Vote for Rajoy Cuts as Crisis Claims Fifth Leader:

Spaniards may hand the biggest majority in three decades to opposition People’s Party leader Mariano Rajoy as polls suggest Europe’s debt crisis will push a fifth government from power.

Rajoy will win as many as 198 of the 350 seats in Parliament in tomorrow’s federal elections, the largest majority any Spanish government has secured since 1982, polls show. Set to inherit a 23 percent jobless rate and the highest financing costs since Spain joined the euro, Rajoy has pledged to deepen spending cuts and overhaul the economy after a four-year downturn.