25
Monday
June 2018
9:24 AM IST
News Headlines
Dantewada: Goods train derailed, Naxal hands suspected        Never planned to meet Railway Minister Piyush Goyal in Delhi: Kerala CM Pinarayi Vijayan        GST rides on federalism: Narendra Modi        15 Killed, 10 Injured as Tractor-trolley Falls Into Canal in Telangana        Saudi Arabia's ban on women driving ends officially        White House spokesperson Sanders says she was kicked out of restaurant        Germany: Huge explosion rips through apartment building, leaves 25 injured        Hat-trick hero Kane helps England reach knockouts after beating Panama 6-1        Roger Federer loses No.1 spot as Borna Coric stuns him in Halle Open final        Federer beats Kudla to reach 12th Halle final        Hockey: Clinical India crush Pakistan 4-0 in CT opener        Infosys stable and on verge of something momentous: Nilekani        Boko Haram raid kills five in Nigeria: residents        Musharraf says he has not quit politics        AP will be torn apart if 'monkey gangs' come to power: CM        Congress neglected development of cities: PM        BJP will not allow Kashmir to get disintegrated from India: Shah        Wary of hacks, World Cup teams get serious on cybersecurity        You pass YoYo test, you play for India, says Shastri, Kohli endorses        Prof Debashis Chatterjee assumes charge as Director of IIM-K        
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | About Deepika 
International News
Pedro Sanchez takes charge in Spain as tarnished Rajoy departs
 
(Madrid, June 01, 2018):Socialist leader Pedro Sanchez took over as Spain's prime minister on Friday, after parliament toppled his predecessor Mariano Rajoy in a no-confidence vote triggered by a corruption scandal involving members of his centre-right party.

Lawmakers stood and cheered as Sanchez - who had earlier promised to try to steer the country through to mid-2020 when the parliamentary term ends - became the country's seventh head of government since its return to democracy in the late 1970s.

But Rajoy's departure after six years in office casts one of the euro zone's top four economies into an uncertain political landscape, just as another - Italy - pulled back from early elections.

Sanchez won Friday's no-confidence motion by 180 votes to 169, with one abstention.

The 46-year-old's Socialist party holds just 84 seats in the 350-member assembly, making it unclear how long his administration can last.

But his strong pro-European credentials, and the fact that Rajoy also ran a minority government, suggest fallout from any political ructions in one of the euro zone's fast-growing economies is likely to be limited.

Spain's stock market rose after the parliamentary vote, to trade nearly 2 percent higher on Thursday's close, while the country's borrowing costs fell.

"Sanchez has reiterated a commitment with European orthodoxy and budget control in Spain," UBS analysts said. "We do not anticipate a substantial impact on the pace of growth."

Michael Metcalfe, head of global macro strategy, State Street Global Markets, added: "We've had a rude awakening of European political risks this week... but the situation in Spain is very different from Italy."

Anti-establishment parties in Rome revived coalition plans on Thursday, ending three months of turmoil by announcing a government that, by contrast, says it will increase spending and challenge European Union fiscal rules.

PRO-EUROPE

With most other Spanish parties also pro-European in outlook, Sanchez has already committed to respecting a fiscally conservative budget passed by Rajoy.

The fragmented parliament means he will also find it hard to row back on structural reforms passed by his predecessor, including new labour laws and cuts in healthcare and education.

In Berlin, a government spokesman said Germany hoped for a stable government in Madrid.

Leftist party Podemos has promised to support Sanchez in parliament, though it seems unlikely to gain major influence over Sanchez, who is keen to win back centrist voters.

After the vote result was announced, members of Podemos smiled and hugged each other before bursting into a chant of "Yes, we can" - the slogan of their party, a product of the widespread anger at spending cuts imposed by Rajoy's first government at the height of the euro zone crisis.

GRACIOUS, BUT UNDERMINED

The outgoing premier conceded defeat prior to the no-confidence vote, congratulating Sanchez and telling deputies in a short, gracious speech: "It has been an honour to have left Spain in a better state than I found it."

The 63-year-old stalwart of the centre-right People's Party (PP) took over the government in 2011 in the middle of a deep recession and presided over a dramatic economic recovery.

However, his position had become increasingly untenable, undermined by scandals encircling his party as well as a divisive independence drive in the wealthy region of Catalonia, which led Madrid to impose direct rule on the region last autumn.

The no-confidence motion was brought by Sanchez after a judge sentenced dozens of people linked to the PP to decades in jail in a long-running corruption trial.

Two Catalan pro-independence parties backed the motion of no-confidence in Rajoy.

Sanchez, who is expected to be sworn in by Monday and appoint his cabinet next week, has promised to start talks with the Catalans but has said he will not give the region an independence referendum.

On Friday, Catalan authorities announced their new cabinet, excluding four nominees under investigation for their part in its independence drive to pave the way for Madrid to end its direct rule.

German prosecutors made a court application for the extradition to Spain of the leader of the independence movement, former regional president Carles Puigdemont, on charges linked to his role in the campaign, they said on Friday in Berlin.


Saudi Arabia's ban on women driving ends officially
White House spokesperson Sanders says she was kicked out of restaurant
Germany: Huge explosion rips through apartment building, leaves 25 injured
Boko Haram raid kills five in Nigeria: residents
Musharraf says he has not quit politics
UN slams Trump over child detentions
Trump tells GOP to 'stop wasting their time' on immigration
Turkey hits back at Trump, imposes tariffs on US goods worth $1.8 bn
Israeli Prime Minister's wife charged with fraud
Iran lawyer arrested after claiming executed man innocent
UK PM calls US images of migrant children 'deeply disturbing'
Merkel, Macron search for reforms to halt EU 'disintegration'
S Korea, US confirm suspending military drills
Iraq force accuses US of killing 22 of its fighters in Syria
Merkel gets ultimatum from hardline ally over migrants
Nigeria: 31 people killed in twin suicide blasts
1 dead, 20 injured in New Jersey arts festival shooting
Pakistan SC bars Musharraf from contesting election
N Korea no longer a nuclear threat: Trump
Former president Maldives and chief justice sentenced for obstruction of justice
ENTERTAINMENT NEWS
I am a big flop actor: Karan Johar
 (Mumbai, May 5, 2018): Filmmaker Karan Johar is in mood to take up full-fledged acting jobs.  
Bittersweet moment for us: Akshaye on Vinod Khanna's Dadasaheb Phalke honour
Happy Sonam is getting married, Anand a great guy: Harshvardhan Kapoor
Auctioning 'Rustom' costume for good cause: Akshay Kumar
KERALA NEWS
Kerala among 13 states on thunderstorm alert
 (New Delhi, May 7, 2018): Thunderstorms accompanied by squall, hail and heavy rains are likel
Kerala Karshaka Jadha Opens to a Great Beginning / Video
Malappuram press club attack: RSS workers nabbed
Workers injured in mudslide at construction site
NATIONAL NEWS
Dantewada: Goods train derailed, Naxal hands suspected
 (Dantewada, June 24, 2018):Eight coaches and engine of a goods train travelling through Dante
GST rides on federalism: Narendra Modi
15 Killed, 10 Injured as Tractor-trolley Falls Into Canal in Telangana
AP will be torn apart if 'monkey gangs' come to power: CM
Untitled Page
Rashtra Deepika LTD
Copyright @ 2017 , Rashtra Deepika Ltd.