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Monday, May 26, 2014

Spain's New Left-Wing Party Scored One Of The Most Stunning Victories In The European Elections

One of the most stunning victories from the European elections held on Sunday came from Spain's new left-wing, anti-austerity party, which celebrated its wins Sunday night only three months after its formation.

According to The Financial Times, Podemos stunned analysts and pollsters by winning 8% of the vote and capturing five seats in total. In some regions, including Madrid, it now stands as the third-largest political force — behind only the ruling Popular Party of prime minister Mariano Rajoy and the opposition Socialist Party.

Podemos (in English, "We Can") accrued a shocking amount of votes in large part thanks to younger voters, turned out in big numbers to support the Podemos party that has ridden a wave of anti-establishment sentiment.

The face of Podemos is 35-year-old Pablo Iglesias, who has helped build the party's media presence. 

Iglesias has been especially critical of Germany and its economic leaders for their austerity-led response to the recent financial crisis in Europe. He has said he wants Spain's leaders to move away from that path. 

"From tomorrow, we will work together with other partners from southern Europe to say that we don’t want to be a colony of Germany and the troika," Iglesias told supporters Sunday night, referring to the tripartite committee led by the European Commission with the European Central Bank and the International Monetary Fund.

Podemos is expected to be an ally of Alexis Tsipras’s anti-austerity Syriza party in Greece, which won the biggest share of the vote in Greece, along with six more seats.

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READ THE ORIGINAL POST AT www.businessinsider.com