Aznar PP first and second terms (combined)

Doctrine — stated goals and content

Economic school: Spanish supply-side liberalism within Popular-Party Christian democracy — combining EMU convergence, privatisation, labour and land liberalisation, and an Atlanticist foreign policy shift ("Aznar Doctrine" aligning with US on Iraq 2003, Azores summit 16 March 2003). Left-right axis: centre-right. Dated policies: EMU convergence and peseta → euro entry 1 January 1999 (notes 2002); full privatisations wave — Telefónica, Repsol, Endesa, Iberia, Argentaria-BBV merger into BBVA January 2000, Tabacalera 1998, Aldeasa, Altadis formation 1999; Ley 54/1997 del Sector Eléctrico (electricity liberalisation); Ley 6/1998 del Régimen del Suelo (land liberalisation foundational to subsequent boom); Ley 24/1997 Pacto de Toledo pension reform; Acuerdo Interconfederal para la Estabilidad del Empleo April 1997 new indefinite contract; Ley 12/2001 labour reform; tax cuts 1998 and 2002 (IRPEF reductions); corporate tax reform 1996; Plan Hidrológico Nacional 2001; immigration tightening Ley Orgánica 8/2000; 23-F-2000 Pactos de Estado against ETA; Iraq participation 2003 Azores Summit; 11-M Atocha attacks 11 March 2004. Popularity: 1996 PP 38.8%/156 seats (narrow); 2000 PP 44.5%/183 seats (absolute majority); 2004 lost to PSOE after 11-M and Iraq backlash, PSOE 42.6%, PP 37.7%. Coherence: very high — classical market-liberal programme executed consistently across two terms; Spain outperformed Eurozone growth 2000-2007 (partly housing-driven).