The nannycrats in Brussels have another thing to worry about today. Exit polls show Mariano Rajoy’s PP party will win the most seats in Spanish elections held today, but Unidos Podemos (United We Can) plus PSOE socialists are likely to achieve an absolute majority.
If the polls are reasonably close, and we will know within hours, the parliament makeup according to El Confidencial26, 2106 is as follows.
There are only two real possibilities now
- United We Can plus PSOE form a government
- PSOE and Ciudadanos both abstain allowing PP to setup a minority government.
If United We Can comes in with 95+, it’s possible PP would not have a majority even if PSOE and Ciudadanos both abstain. The price for such an alliance (if possible) would surely be prime minister Mariano Rajoy’s head.
If these results hold, Mariano Rajoy is toast one way or another.
Mike “Mish” Shedlock
Other news from today just in, Mish
The President of Iceland has welcomed Britain’s exit from the European Union, voicing hopes that the UK will now strengthen it’s relationship with Iceland, Greenland and Norway.
President Ólafur Ragnar Grímsson said the vote to leave the EU represented a “serious setback” for the leaders of the EU, and opened the door to a new “triangle of nations” working together outside of the EU, shifting power in the north of Europe away from the Union.
From Breitbart.
And
From Germanys 3rd largest newspaper today.
Die Welt Calls For Merkel’s Resignation, Slams “EU’s Gravedigger”
From Zero Hedge.
It’s curtains for the EU. No more phony baloney jobs for the Brussels nannycrats to protect. I give them a year before they’re swept into history’s dustbin.
SIC SEMPER TYRANNIS.
Real results show a different result: PP with 131, PSOE 92, Podemos 69
A third of the votes were counted.
Even worse – We Can only has 44 seats according to live results
http://www.elconfidencial.com/elecciones-generales/2016-06-25/directo-elecciones-generales-26junio-resultados-votos-unidos-podemos-psoe-partido-popular-ciudadanos_1222713/
Final count just about and PP picked up votes, but still no absolute majority combining with Ciudadanos who lost seats . Same goes for the left, though PSOE remains second, the only notable effect of the second vote is that there is no real change and no absolute majority for the left unless you count in all the minority/other seats . In total the left lost seats.
http://resultados.elpais.com/elecciones/2016/generales/congreso/
http://www.lavozdegalicia.es/sc/x/default/2016/06/26/00121466976175555473662/Foto/resultado_elecciones.jpg
Off Topic:
Hi Mish- for years I skipped over the comments made by Turd Ferguson over on Goldseek as his name didn’t inspire a lot of confidence. Recently, I discovered his real name is Craig Hemke who is always trying to explain how the commercial banks manipulate the price of gold which he does again today in “Onward toward Bullion Bank Collapse.” He says, among other things, that the banks who already have record short positions blew the open interest way up the other night as gold approached $100 up to slam it back down to 1314 increasing their shorts even more. The negative take on all this can be seen in Trader Dan’s “Gold Weekly COT Update” right above Hemke’s blog on Goldseek with the large specs (hedge funds) holding record long positions which have always been a bearish signal. So what do you think, Mish?
Definitely maybe.
Those who tell don’t know.
Those who know don’t tell.
A couple of weeks ago, we were being told that change was good. London should cheerfully accept their new muslim mayor. Now, it turns out that change is actually bad and the UK has made a dreadful mistake by distancing itself from the EU.
Some of this bombastic rhetoric is coming from the same people, taking BOTH sides of the change/no change issue.
So again…as with the Brexit vote “these votes are estimates.” The turnout is below 50 percent and provided that isn’t an estimate (turnout of 5%?) these are yet another set of figures not to be traded upon.
There is a “claimed” revolt in Britain…there have also been claimed threats made against Britain .. and now actual threats by Turkey against the Pope of all people (I thought Saudi Arabia was the Holy Land?) Needless to say Israel is now aligning with Turkey to start exchanging nuclear and “nuclear control” methodologies. It’s only money so no biggie.
I do find it odd that no one is reporting on whether they can get a quote on the Euro itself. If you have a War on three fronts that you are fighting offensively as Europe is I would think what you are in fact paying those soldiers in would matter whatever their “genetic make up” might be.
Besides a rather remarkable disinformation campaign going on amongst the entire media regime…save for the Mish Comment Section™ apparently…it is odd that a few hundred trillion in debt might be worthless right now going into the open tomorrow.
That would put a bid into the British Pound I would think as it is a reserve currency. If the Euro is now worthless however I’m not sure I’d be buying hand over fist at the 9:30AM Eastern Standard Time open of Wall Street.
If the Treasury Department is printing trillions in Euro’s and shipping them over to Europe via Boeing …. ooops I mean Airbus A380’s maybe that will keep everyone calm over there.
I’d have to look into the actual physical composition of a paper euro as obviously the coinage is worthless plus each country gets to print their own Euros apparently.
If the “euro Armies” currently invading Mali, the Bosporus and Southern Russia refuse to be paid in anything other than US dollars however further oversight management of this issue may be rendered moot.
“Cotton and linen defeats paper.”
Long cotton and fine dining accoutrements.
You are delirious, Mish. This is a hung parliament. Spain would (will) be the last country to reject the UE. Too many football and tapas to think clearly.
No change.
Now what?