Spanish Prime Minister Mariano Rajoy will face a vote of confidence in his leadership on Friday as corruption convictions handed down to dozens of people linked to his center-right People’s Party (PP) threatened his six-year rule.
Spain’s parliament agreed on Monday that the debate and vote would take place on Thursday and Friday, although the opposition Socialists who proposed the vote may struggle to garner enough support in the fragmented legislature to unseat Rajoy.
Opposition parties are taking advantage of Rajoy’s weakness after 29 people linked to the PP were convicted last Thursday of crimes including influence-peddling and falsifying accounts, in the culmination of a long-running corruption trial.
The PP has closed ranks behind Rajoy, who said on Friday he intended to serve out his four-year term and that the corruption convictions did not affect a single member of his government. The 63-year-old survived a no-confidence vote last June.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at email@example.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.