As COVID-19 reshapes our economy, our newsletter will help you unpack the news from the day.
Results of Spanish election could help country’s economic state
JEREMY HOBSON: Now to Spain, which has become the latest European country to throw the bums out. Spain held elections over the weekend, sent the ruling Socialist party packing, and gave the Conservative Popular party control of parliament.
The BBC’s Sarah Rainsford joins us now from Madrid with more. Good morning.
SARAH RAINSFORD: Good morning.
HOBSON: So, what was the electorate in Spain saying here?
RAINSFORD: Well, the Popular party campaigned purely on a platform of change saying it was the party that represented a safe pair of hands for the Spanish economy, that could manage the Spanish economy better than the Socialist party has managed to do in the last eight years.
HOBSON: And when you say “manage” the economy, I assume you mean make big cuts, maybe raise taxes?
RAINSFORD: The Popular party has spoken about austerity, it’s spoken about sacrifices. It hasn’t spoken about tax increases, in fact, it’s talking about cutting tax for businesses, trying to promote entrepreneurialism. It’s talking about trying to promote small and medium-sized businesses, to get them hiring people again and try to tackle Spain’s really big problem — which of course is unemployment. Almost five million people here in Spain are unemployed.
HOBSON: And do the people in Spain this morning feel they’re going to get what they want?
RAINSFORD: I think half of Spain is hopeful and the other half of Spain is pretty gloomy. People on the left wing here in Spain are concerned about possible cuts to the welfare state, they’re concerned about austerity measures affecting health and education. People on the right wing I think are pleased that finally their party has come to power and they hope it can bring the change that it promised, but it’s a really tall order because, of course, all the eyes on the eurozone and the international markets are also on Spain to see if the Popular party can really deliver what it’s promised.
HOBSON: The BBC’s Sarah Rainsford in Madrid. Thanks, Sarah.
RAINSFORD: Thank you.
If you’re a member of your local public radio station, we thank you — because your support helps those stations keep programs like Marketplace on the air. But for Marketplace to continue to grow, we need additional investment from those who care most about what we do: superfans like you.
Your donation — as little as $5 — helps us create more content that matters to you and your community, and to reach more people where they are – whether that’s radio, podcasts or online.
When you contribute directly to Marketplace, you become a partner in that mission: someone who understands that when we all get smarter, everybody wins.