There were regional elections in Spain.The party of Prime Minister Mariano Rajoy took the majority of seats in the Galicia region, and got trounced (as expected) in the Basque region.
With this victory, the Prime Minister recover the strength to manage a possible imminent rescue and to move forward with measures that are targeted as having to do with pensions and with further cuts.
Bottom line: With Rajoy’s new political capital, Spain just inched a tad closer to asking for a bailout.
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