The Rise of Far Right Populism in Spain June 11.2022 The far-right Vox party has been called far-right, anti-immigration and anti-Islam Vox has risen towards becoming Spain’s third strongest party. As a result of its success, the government can no longer accurately toward being immune to the growth of Europe’s nationalist extreme right. On the other hand, did not receive much backing when it was formed in 2013. It received barely 0.2 percent of the vote in the Spanish general elections in 2015 and 2016. Even if it is unknown how much of this movement may be ascribed to VOX’s structural existence or other factors like the epidemic and uncontrolled immigration, there seems to be a minor uptick in unfavorable sentiments related to immigration. Yet, the consequence of VOX’s development as a populist movement can be seen in Spain’s growing cultural division, which obstructs sensible discourse on population and what to handle it. In 2018, Vox’s time in the political spotlight ended abruptly. The party received 11 percent of the vote in Andalucía (Spain’s most populated region) in provincial elections that year. Vox now has 52 representatives of the Spanish Congress, three senators, four European Cabinet ministers, 55 regional parliamentarians, 526 local councilors, and five mayors. Vox has been a significant external backer of various municipal and regional administrations and serves as a “power broker.” Spanish Socialist Workers' Party The Spanish Socialist Workers' Party (Spanish: Partido Socialista Obrero Español [paɾˈtiðo soθjaˈlista oˈβɾeɾo espaˈɲol] ⓘ; abbr. PSOE [peˈsoe] ⓘ) is a social-democratic[2][6] political party in Spain. The PSOE has been in government longer than any other political party in modern democratic Spain: from 1982 to 1996 under Felipe González, 2004 to 2011 under José Luis Rodríguez Zapatero, and since 2018 under Pedro Sánchez. The PSOE was founded in 1879, making it the oldest party currently active in Spain. The PSOE played a key role during the Second Spanish Republic, being part of the coalition government from 1931 to 1933 and 1936 to 1939, when the republic was defeated in the Spanish Civil War. The party was then banned under the Francoist dictatorship and its members and leaders were persecuted or exiled; the ban was only lifted in 1977 in the transition to democracy. Historically Marxist, it abandoned the ideology in 1979.[7] [HA, HA, HA...] Like most mainstream Spanish political organizations since the mid–1980s, the PSOE has been considered by experts to have embraced a positive outlook towards European integration.[8][n. 1] The unwavering European: Spain and its place in Europe ECFR’s Coalition Explorer shows Spain to be an outlier in Europe – as it places great weight on foreign policy. But could new political turbulence thwart its ambitions once more? 5 April 2019 Spanish politicians have always been proud of the consistent Europeanism of Spanish citizens. Indeed, until recently, no political party had ever played the Eurosceptic card. New on the scene now is insurgent far-right party Vox, which entered the Andalusian parliament in December and is polling at double digits for the next general election. But even it has avoided the Eurosceptic line of attack. Regardless of their political differences, the Popular Party’s Mariano Rajoy (in government until June 2018) and the Socialist Pedro Sanchez (who became prime minister after winning a no confidence vote against Rajoy) agree that the European Union should be Spain’s main foreign policy
World’s 20 Biggest Debtor Nations
McKinsey finds that little deleveraging has occurred; rather, debt-to-GDP ratios have generally gone up since 2007.
... the much discussed expectation was that the world, post-crisis, would be going through a period of deleveraging. But a new report by global consulting firm McKinsey & Co. reveals that that deleveraging has not happened; rather debt has continued to accumulate to ever-high levels, in both absolute and relative-to-GDP terms. The report, the third in a series by the McKinsey Global Institute since the onset of the 2008 financial crisis, is titled “Debt (and Not Much) Deleveraging,” and warns the world’s rising debt may add risk to global financial stability while potentially undermining economic growth. Specifically, global debt of $142 trillion in Q4 2007 rose to $199 trillion by Q2 2014. That $57 trillion increase, expressed relative to global GDP, represents a 17% higher debt level — from 269% to 286% of debt to GDP. Most of that debt expansion stemmed from government debt issuance, which rose to a compound annual growth rate of 9.3% in the period since the global financial crisis compared with pre-crisis debt growth of 5.8%. But households and the financial sector have also added to total debt (albeit at a lower rate than pre-crisis) while corporate debt has largely kept pace with pre-crisis levels. In its analysis, the McKinsey Global Institute looked at 47 countries — 22 advanced and 25 developing. Nearly all were leveraging rather than deleveraging. Only five countries studied have deleveraged since the global financial crisis — Israel by the most, having reduced its national debt by 22 percentage points.
Herewith the 20 countries with the highest current level of debt relative to GDP:
20. Malaysia 19. Austria
18. Hungary
15. Finland
14. Norway
13. UK
12. Italy
11. France
10. Sweden
9. Denmark
8. Spain
7. Greece
6. Netherlands
5. Belgium
4. Portugal
3. Singapore
2. Ireland
1. Japan
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