Rajoy Wins as Spain Cleaves to Establishment After Brexit
- Traditional parties consolidate position as Podemos stumbles
- Exit polls had shown PP losing seats, Podemos in second place
Rajoy Wins Spanish Election Amid Brexit Chaos
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Caretaker Prime Minister Mariano Rajoy consolidated his position in Spain’s general election as voters backed away from insurgent political forces in favor of the relative security of the People’s Party.
The outcome of Sunday’s voting confounded exit polls and suggested the electorate had shied away from the anti-establishment party Podemos at the last minute. With the U.K. engulfed by political and economic uncertainty following Thursday’s unprecedented vote to quit the European Union, Spaniards bought into Rajoy’s call not to jeopardize the country’s economic recovery. Spanish bonds surged on Monday.