19
Friday
October 2018
7:04 AM IST
News Headlines
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | About Deepika 
International News
Pedro Sanchez takes charge in Spain as tarnished Rajoy departs
 
(Madrid, June 01, 2018):Socialist leader Pedro Sanchez took over as Spain's prime minister on Friday, after parliament toppled his predecessor Mariano Rajoy in a no-confidence vote triggered by a corruption scandal involving members of his centre-right party.

Lawmakers stood and cheered as Sanchez - who had earlier promised to try to steer the country through to mid-2020 when the parliamentary term ends - became the country's seventh head of government since its return to democracy in the late 1970s.

But Rajoy's departure after six years in office casts one of the euro zone's top four economies into an uncertain political landscape, just as another - Italy - pulled back from early elections.

Sanchez won Friday's no-confidence motion by 180 votes to 169, with one abstention.

The 46-year-old's Socialist party holds just 84 seats in the 350-member assembly, making it unclear how long his administration can last.

But his strong pro-European credentials, and the fact that Rajoy also ran a minority government, suggest fallout from any political ructions in one of the euro zone's fast-growing economies is likely to be limited.

Spain's stock market rose after the parliamentary vote, to trade nearly 2 percent higher on Thursday's close, while the country's borrowing costs fell.

"Sanchez has reiterated a commitment with European orthodoxy and budget control in Spain," UBS analysts said. "We do not anticipate a substantial impact on the pace of growth."

Michael Metcalfe, head of global macro strategy, State Street Global Markets, added: "We've had a rude awakening of European political risks this week... but the situation in Spain is very different from Italy."

Anti-establishment parties in Rome revived coalition plans on Thursday, ending three months of turmoil by announcing a government that, by contrast, says it will increase spending and challenge European Union fiscal rules.

PRO-EUROPE

With most other Spanish parties also pro-European in outlook, Sanchez has already committed to respecting a fiscally conservative budget passed by Rajoy.

The fragmented parliament means he will also find it hard to row back on structural reforms passed by his predecessor, including new labour laws and cuts in healthcare and education.

In Berlin, a government spokesman said Germany hoped for a stable government in Madrid.

Leftist party Podemos has promised to support Sanchez in parliament, though it seems unlikely to gain major influence over Sanchez, who is keen to win back centrist voters.

After the vote result was announced, members of Podemos smiled and hugged each other before bursting into a chant of "Yes, we can" - the slogan of their party, a product of the widespread anger at spending cuts imposed by Rajoy's first government at the height of the euro zone crisis.

GRACIOUS, BUT UNDERMINED

The outgoing premier conceded defeat prior to the no-confidence vote, congratulating Sanchez and telling deputies in a short, gracious speech: "It has been an honour to have left Spain in a better state than I found it."

The 63-year-old stalwart of the centre-right People's Party (PP) took over the government in 2011 in the middle of a deep recession and presided over a dramatic economic recovery.

However, his position had become increasingly untenable, undermined by scandals encircling his party as well as a divisive independence drive in the wealthy region of Catalonia, which led Madrid to impose direct rule on the region last autumn.

The no-confidence motion was brought by Sanchez after a judge sentenced dozens of people linked to the PP to decades in jail in a long-running corruption trial.

Two Catalan pro-independence parties backed the motion of no-confidence in Rajoy.

Sanchez, who is expected to be sworn in by Monday and appoint his cabinet next week, has promised to start talks with the Catalans but has said he will not give the region an independence referendum.

On Friday, Catalan authorities announced their new cabinet, excluding four nominees under investigation for their part in its independence drive to pave the way for Madrid to end its direct rule.

German prosecutors made a court application for the extradition to Spain of the leader of the independence movement, former regional president Carles Puigdemont, on charges linked to his role in the campaign, they said on Friday in Berlin.


Sri Lankan President assured of "fullest cooperation" by PM Modi
VP Naidu arrives in Brussels for 12th ASEM Summit
In Turkey, Pompeo discusses Iranian oil consumption, Khashoggi's disappearance
Trump calls Stormy Daniels a 'Horseface'
Paul Allen, who co-founded Microsoft with Bill Gates, dies of cancer at 65
Flash floods kill at least 13 people in southwest France
Prince Harry and wife Meghan expecting first baby next year
Death Toll in Afghanistan Election Rally Blast Climbs to 22
Kabul voters wrestle with newspaper-sized ballot paper
Turkey has proof Saudi writer Jamal Khashoggi was killed: Report
Hurricane Michael in US kills 11
At least 31 dead after Uganda 'landslide': official
EU officials warned to prepare for no-deal Brexit
China hails Nikki Haley for maintaining dialogue with it at UN
Nikki Haley resigns as US Ambassador to UN
Not only banks, Nirav Modi also defrauded individuals with fake diamonds
China says former Interpol chief accepted bribes
50 killed, 100 burnt in oil tanker road crash in DR Congo: Official
Pompeo eyes progress over Trump-Kim summit on Asia trip
Khaleda Zia admitted to specialised state-run hospital
ENTERTAINMENT NEWS
Mohanlal's Odiyan: Official trailer launched
 Finally the wait is over. The much awaited Mohanlal film Odiyan's trailer has been released.
 
Mammootty narrates Odiyan's intro?
Sradha Kapoor as Saina Nehwal: First look poster is out.
Keerthy Suresh and Kalyani Priyadarshan joins Marakkar
KERALA NEWS
Vijayan urges UAE Keralites to back salary challenge
 (Abu Dhabi, Oct 18, 2018): Kerala Chief Minister Pinarayi Vijayan has urged Keralite business
Sabarimala row: Protests against SC verdict continue
Balabhaskar's wife Lakshmi shifted to ICU
Idukki dam's one shutter opened
NATIONAL NEWS
PNB Scam: ED seizes more assets of Modi, Choksi
 (Mumbai, Oct 18, 2018): The Enforcement Directorate (ED) on Wednesday further seized and atta
Andhra CM visits cyclone-hit areas in Srikakulam
#MeToo fallout: MJ Akbar resigns as minister of state for external affairs
Polling underway for last phase of municipal polls in J-K
Untitled Page
Rashtra Deepika LTD
Copyright @ 2018 , Rashtra Deepika Ltd.