Socialist party leader Pedro Sanchez is set to become Spain’s new prime minister after a no-confidence vote in parliament Friday unseated Mariano Rajoy’s conservative government. Sanchez, until now the leader of the largest opposition party, could be sworn in by King Felipe VI as early as Saturday and appoint his Cabinet over the coming days. The Madrid stock exchange was up 1.8% after Sanchez won the vote and earned a standing ovation from his party’s lawmakers. Socialist leader Pedro Sanchez stands with deputies in the parliament after a motion of no confidence vote at the Spanish parliament in Madrid. The support of leftist and nationalist parties for ousting Rajoy won’t necessarily lead to parliamentary backing for Sanchez’s government and could produce a political stalemate.

Source: Hindustan Times June 01, 2018 11:16 UTC