Spain voted overwhelmingly for a change of party and a new government as it fights to avoid a financial bailout. Mariano Rajoy, the new prime minister, can lose no time in picking a new team to introduce tough measures and spending cuts. The ratings agencies have already downgraded Spain. This briefing identifies who the key players in the government may be.

'IT`S THE economy, stupid’ could be the popular phrase in Spain. It has the highest unemployment in the eurozone, low productivity and low competitiveness, growing debt and bond interest rates edging up to the critical seven per cent.

The only way of avoiding a financial bailo...

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Professor Jaime Nogueira Pinto
What is less clear is who will join Mr Rajoy’s team to share these challenges. The prime minister has remained very discrete but his new government will have ten departments rather than the 15 run by the outgoing prime minister, Mr Zapatero
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