Rising Spanish Leader Emboldens Anti-Austerity

Pablo Iglesias is just 36 years old, and yet, he could become the next prime minister of Spain.

That’s a fact that looms large among European finance ministers as they continue their bailout negotiations with Greece. According to multiple sources who spoke with CNBC, finance ministers and prime ministers on the continent express concern that if they give leniency to Greece, they will embolden other anti-austerity movements. Iglesias’ party, Podemos, is at the top of the list.

Podemos (Spanish for “We Can”) cemented itself in the Spanish political scene by garnering more than a million votes in May elections for the European Parliament, where the party now holds five seats. The accomplishment is all the more extraordinary for coming from a political party little more than a year old.


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