Spanish Prime Minister Pedro Sanchez celebrated an electoral triumph in Madrid Sunday night but he and his party have multiple challenges ahead of them.
Sunday's vote was Spain's third general election since 2015, with the country's politics more splintered than at any time in its modern democratic history.Pedro Sanchez , Prime Minister of Spain and candidate of the Socialist Party , cheers with his wife Begonia Gomez to his supporters on election night.
In a victory speech that was frequently drowned out by the chants of his flag-waving PSOE supporters, Sanchez insisted that he would seek cooperation from across the political spectrum with any group that was prepared to promote social justice and to respect Spain's 40-year-old constitution.had vied for Spaniards' votes on Sunday; three on the right and two on the left.
If such a combination proves achievable, it could allay concerns about the kind of political uncertainty that plagued Spain through much of 2016, when politicians spent nearly a year haggling over the formation of a new government. But senior party officials told CNBC they do not expect a new government to be formed before June.
Sanchez took power after pushing through a motion of censure against his predecessor Mariano Rajoy, with his Partido Popular mired last summer in a sprawling corruption scandal.
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