77.9% Of Spanish Voters Polled Have Little Or No Confidence In Rajoy

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Submitted by J. Luis Martin, director of trumanfactor.com, originally published in El Confidencial

77.9% Of Spanish Voters Polled Have Little Or No Confidence In Rajoy

According to the latest Centro de Investigaciones Sociológicas (CIS) poll, Spanish Prime Minister Mariano Rajoy’s popularity has sunk to the point where 77.9% of the country’s electorate has little or no confidence in him. The survey still shows Rajoy’s conservative Popular Party (PP) ahead of the Socialist Party, however, by 6.7 per cent – eight percentage points down from the PP’s historic election win eight months ago.

A distant leader’s broken promises

Ironically, during his entire his political campaign, and during his time as leader of the opposition, Rajoy’s fundamental message was that the country needed “a shot of confidence” to overcome its economic woes. Rajoy’s promises to implement swift and credible policies that would restore confidence in Spain were pivotal to his landslide electoral victory last November.

However, the complete U-turn his Administration begun only days after taking office has left many feeling betrayed. Broken promises aside, his distant and elusive manners have only added to the detriment of his public image.

Investors also lose confidence

Capital flight from Spain is reaching dangerous levels, as over €163bn left Spain during the first half of the year. As investors dump domestic assets and depositors move their money away, the equivalent to nearly one quarter of the national GDP has exited the country over the past eleven months.

Spain’s contracting economy and uncertainty over the euro zone’s integrity seem to further scare money away from a country facing tremendous financing needs over the next few months.

A “hot autumn” ahead

Social tensions add to the drama encompassing the EU’s fourth-largest economy. As the government’s latest round of tax hikes and budget cuts continue to infuriate public opinion, labor unions appear to be mobilizing for what may expect to be a “hot autumn.” Such is the seriousness of the situation that Spanish King Juan Carlos is to meet with leaders of the country’s two largest labor unions today.

According to the CIS poll, Spaniards continue to consider their political class to be the third most pressing problem with their country (unemployment and the economy take the first two places in the poll). In addition, 39.2 per cent say they do not identify with any of the available political parties.

Urgency to act

A steadfast implementation of the country’s financial sector reform would help ease tensions and restore some of the lost confidence abroad. In addition, Rajoy needs to act upon the ECB’s “invitation” to request assistance from the EFSF to dissipate doubts about the country’s immediate financial future.

Much remains to be done, however, for Rajoy to rally the country behind him and restore the confidence lost at home and abroad.

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Tue, 08/07/2012 - 07:40 | 2684071 bank guy in Brussels
bank guy in Brussels's picture

Rajoy's support is yet another item that has 'vapourised' -

The 'austerity' programme of imposing the cuts on southern Europe lower classes, is a human rights offence, and a denial of the great heritage of 'social model' Europe

Of course as ZH has pointed out, there is little or no 'austerity' in terms of overall budgets which are ballooning with bailouts of euro-zone banks

Schemes to float the banks would be forgiveable if, like in Japan, the working people were not being ravaged in their place

Tue, 08/07/2012 - 08:00 | 2684093 Snidley Whipsnae
Snidley Whipsnae's picture

How many Spaniards had confidence in Franco? It didn't matter because Franco had the tyranny in place to control all that opposed him.

Now Spain has another tyranny... in fact, the entire world has to face the current tyranny. It goes by the innocent sounding name of central banking but it's control of the sheeple is more complete that Franco's ever was.

Let's consider little Tims proposed appointment to 'permanent member of the National Security Council'...

Currency wars heating up.



Tue, 08/07/2012 - 08:30 | 2684150 azzhatter
azzhatter's picture

Spain needs a guy who just exudes confidence like Herman Van Rumpboy

Tue, 08/07/2012 - 07:39 | 2684073 malikai
malikai's picture

I wonder what a poll of Rajoy's worldwide assets looks like.

I'll take a guess that it has grown by about 77% in the same period.

Tue, 08/07/2012 - 07:39 | 2684074 Ghordius
Ghordius's picture

"39.2 per cent say they do not identify with any of the available political parties" - as usual. 25% undecided are "normal". In fact, it's usually only 30% of europeans that have any interest in politics.

Tue, 08/07/2012 - 07:40 | 2684075 AetosAeros
AetosAeros's picture

"However, the complete U-turn his Administration begun only days after taking office has left many feeling betrayed. "


So what's the problem? He did what every politician has done since an office opened up for people to get soothing words and promises to help them feel better about how lousy their life is. Par for the course.

It's what people want, or did you think that the blatant ignorance of a voting public was an anamoly? Try the veal, you'll get more satisfaction from that.

Tue, 08/07/2012 - 07:43 | 2684076 Jason T
Jason T's picture

So Spain has a GDP of $1.49 trillion.. yet YTD as of May, $200 billin in capital flight had taken place and since we'er now in August.. 



Tue, 08/07/2012 - 07:44 | 2684078 LongSoupLine
LongSoupLine's picture

"Voters?...Voters?!!  Don't talk to me about voters.  Voters?!" - NFL Coach (ok, I changed the words)


When you're voting between two stinking piles of hot steaming shit in a completely corrupted election system (this goes for any country), how is it that "voters" are of any appreciable good?

Tue, 08/07/2012 - 07:48 | 2684082 Vegetius
Vegetius's picture

Promises are dangerous things when people believe you Mr Rajoy.

God knows why people do believe these Guys


“If you don't want to slip up tomorrow, speak the truth today.”

Bruce Lee

Tue, 08/07/2012 - 07:53 | 2684085 cossack55
cossack55's picture

"In a time of universal deceit, telling the truth is a revolutionary act"

                          George Orwell

Always loved that one.  I think Orwell is moving from author to prophet.

Tue, 08/07/2012 - 07:56 | 2684089 ArrestBobRubin
ArrestBobRubin's picture

Survey Says: there's no joy in Rajoy

Tue, 08/07/2012 - 07:58 | 2684092 No Euros please...
No Euros please we're British's picture

"When it becomes serious, you have to lie,"

Jean-Claude Juncker

It must be serious.

Tue, 08/07/2012 - 08:02 | 2684094 Widowmaker
Widowmaker's picture

Rajoy is like any other politician - first they are a banker-bitch, then they are a citizen fucker once they get access to the nectar of power.

He'll be done soon, and the fraud charade continues with yet another distraction that no one will see coming.

Tue, 08/07/2012 - 08:14 | 2684112 youngman
youngman's picture

You really have to be thinking you are a God to even think of running one of these countries right now....all you are going to get is mud on your face...if you do it right..cut the expenses....you will be hated by most of the population...if you do it wrong..nothing...you destroy the country.....and you will be know in history as the one who destroyed the country...politicians do think they are God...as Obama the Messiah

Tue, 08/07/2012 - 08:28 | 2684146 azzhatter
azzhatter's picture

99.7% of my brain has no confidence in Obama, Romney, congress or the american people.

Tue, 08/07/2012 - 08:56 | 2684218 tu-ne-cede-malis
tu-ne-cede-malis's picture

Something I'd like to see fleshed out is the regional disputes within Spain.  Catalonia and Basque people both seem to want to break away from Spain and be their own soverign nations.  Curious how that will factor into all this.

Tue, 08/07/2012 - 09:35 | 2684315 shovelhead
shovelhead's picture

The revolution will begin...

After we cash the bailout check. C-4 ain't free.

Tue, 08/07/2012 - 08:56 | 2684220 Snakeeyes
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