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Spain is holding it's fourth parliamentary election in four years and two in six month in an attempt to break a political stalemate. However Spanish voters are likely to return an an even more fragmented parliament.

Spain Sanchez

Spanish leader Pedro Sánchez’s administration has been shortest in Spain’s modern democratic history. Photograph: Chema Moya/EPA

This time around the polls predict no clear winner and there is a sizeable showing by the far-right. Opinion polls have the Socialists in the lead but losing seats from the April’s vote. The conservative People’s Party (PP) could gain seats and the far-right Vox could become the country’s third-largest party, just months after winning its first parliamentary seats.

Spain has been  trying to get a stable governments together since 2015 to no avail. New parties emerged from the financial crisis of following decades during which power oscillated between the Socialists and the PP.

Acting Prime Minister Pedro Sanchez called the election hoping a new vote would strengthen his position after his Socialist Party won in April, however they failed to forge the alliances needed to form a government. Sanchez avoided questions on Sunday about a likely political stalemate.

“Democracy is the best heritage of our parents and we must make the most of it ... I encourage Spaniards to vote and strengthen democracy with our vote,” he said after voting in the town of Pozuelo de Alarcon, just west of Madrid.

Voting will end at 8 p.m. (1900 GMT) in mainland Spain. Results should begin emerging in the early evening, with almost all votes counted by midnight.

A minority government led by the Socialists appears the most likely outcome, opinion polls show, but an even bigger question is who the Socialists may ally with and how long any government can last with a very fragmented parliament. Many voters were still undecided days before the vote, meaning other scenarios are also possible.Ruters reported

 Violent protests by separatists last month in the northeastern region of Catalonia have overshadowed the campaign, delivering a boost to the right, and in particular to Vox and the PP, whose fiercely anti-separatist rhetoric has struck a chord with many voters. Polls suggest that support for Vox could as much as double, even if pollsters have struggled to estimate the new party’s popularity.

The overall result is likely to be very close, giving rise to multiple configurations or even a repeat election. The number of postal votes has dropped by nearly 27% compared with April, the government said on Saturday, in a potential sign that voter fatigue could translate into higher abstention

Madrid sent 2,500 additional national police officers to reinforce Catalonia’s regional police force. In total more than 92,000 police will be deployed across Spain to safeguard the vote. 

Source: Reuters

From The TradersCommunity Research Desk

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