This time, Spain's People's Party (PP) has greater chances of winning the parliamentary elections in November, than the Socialists (PSOE), reveals the survey conducted by El Mundo. Presently PP has a support of 47.8% in comparison to 31.6% of the support with PSOE.

Recent reports have revealed that the Prime Minister of Spain Jose Luis Rodriguez Zapatero has taken a drastic step and has dismissed the parliament just before elections. He further announced that there shall be stricter measures followed for effectively dealing with the economic crisis, if there be need for steps to be taken before the elections that are to be held in November.

Prime Minister Mr. Jose Luis Rodriguez Zapatero has recently announced that Spain is efficient enough to survive all the arousing tensions that are presently affecting the markets severely, and thus, it does need any international bailout at its end.

In a recent news conference in Ankara, with Turkish Prime Minister Mr. Recep Tayyip Erdogan that was carried on Spanish television, he said that: "Spain, of course, will finance itself. We will survive these tensions. They are not good for our economy, but we will survive them. We have strength”.

Spanish Prime Minister Jose Luis Rodriguez Zapatero denied that he never stated that the country was in emergency situation and may need a bailout soon like Ireland, Portugal, and Greece.

Earlier, union leader Ignacio Fernandez Toxo had notified that the PM stated that the country was on the periphery of economic crisis and needed a bailout for the economy. He added that the PM did not provided any evidence regarding the situation nor any memo related to the European Central Bank was exposed.

Following the discussion over deficit cap amendment, Spain was successful in raising an amount of $5.2 billion. It has been revealed that the proposal of amending the deficit cap would take place between the two main parties of Spain and the final decision would be taken in the next week’s Parliamentary session.

It has been informed that if the amendment is passed by the parliament, then the deficit cap of 0.4% of the Gross Domestic Product will be placed in a separate law, which will be passed in the next year. Even if the law is passed next year, it won’t be implemented before 2020.

According to recent reports, it has been revealed that the short term borrowing costs in Spain are soon going to see a drop soon. Only yesterday, it saw the first evidences of it after it sold Treasury Bills of € 2.94 billion.

Amidst the debt crisis gripping the Eurozone since a long time now, there are all efforts being made by the government of Spain. It has been revealed that the borrowing costs of Spain remained below 10%.

In a much warranted move, Spain's government and opposition have agreed to clear a constitutional limit on public sector borrowing, thereby sending peace signals in the European countries.

The move was triggered when the Spanish parliament decided to trim down the deficit to 6% of economic output this year, from 9.2% in 2010. Recently, Spain had been in news for being at a risk of near default, and had the European Central bank not intervened, it was possible that Spain could have asked for a bailout.

Earlier on August 05, the Bank of Spain notified that tensions on sovereign debt markets could extend to the real economy as credit dries up on financial markets. Consequently, the International Monetary Fund has hailed for more reforms and said that many imbalances and structural weaknesses needs to be addressed.

Afterwards, Spanish Socialist Prime Minister Jose Luis Rodriguez Zapatero addressed a cabinet meeting as an attempt to outline measures to ensure that the country meets its deficit goals this year and boosts growth.

Spain’s Socialist Prime Minister, José Luis Rodríguez Zapatero has dissolved the parliament on Friday and announced an early election in November due to the forecast of Eurozone’s sovereign debt and banking crises in the country. The nation requires a capable government to overcome the situation.

The government has been efficiently working since May 2010 and has been fixing the troubles of Eurozone. But recently, it has been running short of streamline.

It has been revealed according to recent reports that the Prime Minister of Spain, Mr. Jose Luis Rodriguez Zapatero has called for an early election, about four months earlier than the set date.

This has been done in order to make the most out of the slight upward movement that has been seen in the opinion poll ratings in the recent times. It is expected that the winner of these polls might be Mariano Rajoy; the analysts are however concerned by what margin the win would be accomplished.