Analysis

The costs of the Spanish scandal

15 Feb 2013
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Region: 
EU/Eurozone

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Spanish politics have taken a dramatic turn in the last fortnight, and one that has not fully registered outside of Spain. Spain’s biggest political scandal of the post-Franco era may yet bring down Spanish Prime Minister Mariano Rajoy. But the real cost of the ‘Bárcenas Scandal’ is as likely to be the compounding of a broader crisis of authority for the pre-crisis Spanish political mainstream. This is likely to have longer-term implications for the speed and depth of Spanish reforms.

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