After what has been a very turbulent time for the Spanish government, the vote is finally in. The Spanish socialist workers party (PSOE) has been voted out, and the right wing People´s Party has come to power, victorious by 10% in points! But what changes does this mean for the Spanish economy?

Since the recession in Spain started in the summer of 2007, huge unemployment issues, austerity measures and strikes have drastically affected the Spanish economy bankrupting companies and causing chaos amongst the financial world. The People´s Party (PP) promises to resolve these issues across their manifesto. They hope to tackle the problems of economy and employment by creating work, and becoming more globalised, and stronger throughout Europe.

After 4 years of economic crisis Spain could finally be recovering, meaning good news for start-up and older businesses alike. If Mariano follows anything like the conservative party have in England we should be able to hope for many reformations and incentives for financial investment. In Cameron´s first speech as prime minister he promised to help cut red-tape, improve trade and help banks with lending - definitely targets which Spain could benefit from.

The People´s Party have set themselves many goals, and are starting from roots in the current difficult financial situation. One can hope that the changes they promise will be for the benefit of Spain and its people, advancing the economy and bringing the country out of recession – but after 13 years of the Spanish socialist workers party, how will the country cope with this drastic shift to a left-wing party?

If you or your business have any queries or worries regarding the governmental change, don´t hesitate to contact Lexland Abogados, where they can help you understand how to work with the changing Economy.

Sources:

-           www.guardian.co.uk

-          www.seekingalpha.com

-          www.pp.es

-          www.news.bbc.co.uk