Mariano Rajoy, 56, the man expected to become the next prime minister of Spain, called on financial markets to grant a period of grace to turn around the economy, after a week that saw Spain’s borrowing rate edge closer to the critical 7 per cent.
“Those who win should have a minimum margin, more than half an hour” to enact swift reforms, he said Friday on the last day of campaigning, amid market pressure that treatened to make Spain the next victim of the Euro crisis.
Polls have consistently placed the Popular Party (PP) 15 points ahead of the ruling Socialists, but a mid-week survey conducted by Sigma Dos predicted an even greater lead, with the PP securing 48 per cent of the vote against 28 per cent for the PSOE.
Such a result could help calm the markets, handing Mr Rajoy’s party the absolute majority deemed necessary to push through a new round of austerity measures and job-creation incentives intended to cut the public deficit while creating economic growth.
With more than 34 million Spaniards entitled to vote, the PP looked set to secure between 195 and 202 in the 350-seat congress. » | Fiona Govan, Madrid | Saturday, November 19, 2011
