IESET.
Movements·spain_rajoy_pp_first_2011_2015

Rajoy I PP absolute-majority austerity and banking-bailout government 2011-2015

ESP·2011 – 2015·PP absolute majority (186/350)
Leaders: Mariano Rajoy (PM) · Luis de Guindos (Economy Minister) · Cristóbal Montoro (Finance Minister)
positionsaustrianchicago_monetarisminstitutionalismclassical_liberalempirical_pragmatistordoliberaldemocratic_socialistdevelopmentalismeco_socialistmarket_socialistnew_keynesianpost_keynesiansocial_democratic

Doctrine — stated goals and content

Centre-right PP government in full-troika-pressure mode: €100bn EU banking- sector bailout facility (Memorandum of Understanding, Jul 2012 €41.3bn drawn, SAREB bad-bank), €65bn consolidation package (Jul 2012 RDL 20/2012: VAT 18%→21%, public-sector Christmas-bonus cut, unemployment-benefit tightening), labour-market reform (RDL 3/2012 and Ley 3/2012) reducing severance on unfair dismissal from 45 to 33 days/year, giving firms unilateral wage-setting scope, and restructuring collective bargaining away from sectoral pre-eminence. Banking resolution via FROB + Frob-III with Bankia nationalisation May 2012. Catalan constitutional crisis escalation (9N 2014 informal consultation; prosecution of Mas et al.). Popularity: PP 44.6% / 186 seats 2011, fell to 28.7% / 123 seats Dec 2015 (fragmentation with Podemos + Ciudadanos entering parliament). Rajoy personal approval ~20-25% most of term. Coherence: high on economic programme (integrated consolidation + structural reform + banking clean-up); low on Catalan handling.

Policy-content fingerprint — how the framework codes this movement on its axes

↓
spending level
fiscal.spending_level
General government spending as share of GDP, excluding transfers already captured under fiscal.transfer_expansion to avoid double-counting.
decreased · strong
lower spending share
€65bn consolidation Jul 2012; deficit 9.4%→5.1% GDP 2011-2015.
↑
labour market flexibility
regulatory.labour_market_flexibility
Ease of hiring/firing, collective-bargaining scope, minimum wage rigidity, temporary/permanent contract regulation.
increased · strong
more flexible (easier hiring/firing, less rigid bargaining)
Severance cut 45→33 days; firm-level bargaining primacy; opt-out clauses.
↓
financial deregulation
regulatory.financial_deregulation
Financial-sector regulation — banking separation, capital requirements, cross-border activity rules, derivatives oversight.
decreased · strong
looser financial regulation
SAREB bad-bank; Bankia/Catalunya Banc/NCG Banco nationalisations; supervisory tightening.
↓
tax progressivity
fiscal.tax_progressivity
Progressivity of the personal income tax schedule, including top marginal rates, bracket spread, and targeted credits (EITC-equivalents).
decreased · moderate
less progressive (flatter rates, compression, smaller credits)
VAT 18→21%; IRPF temporary surtax 2012-2014 modestly progressive; net shift to consumption.

Policies enacted

Schools of thought aligned or opposed

aligned
austrian
derived: score=+0.94, overlap=4 axes vs austrian profile (mechanical backfill v1)
aligned
chicago_monetarism
derived: score=+0.58, overlap=4 axes vs chicago_monetarism profile (mechanical backfill v1)
partial
institutionalism
derived: score=-0.39, overlap=4 axes vs institutionalism profile (mechanical backfill v1)
aligned
classical_liberal
derived: score=+0.74, overlap=4 axes vs classical_liberal profile (mechanical backfill v1)
aligned
empirical_pragmatist
derived: score=+0.66, overlap=4 axes vs empirical_pragmatist profile (mechanical backfill v1)
aligned
ordoliberal
derived: score=+0.48, overlap=4 axes vs ordoliberal profile (mechanical backfill v1)
opposed
democratic_socialist
derived: score=-0.51, overlap=4 axes vs democratic_socialist profile (mechanical backfill v1)
opposed
developmentalism
derived: score=-0.59, overlap=4 axes vs developmentalism profile (mechanical backfill v1)
opposed
eco_socialist
derived: score=-0.55, overlap=3 axes vs ecological profile (mechanical backfill v1)
opposed
market_socialist
derived: score=-0.71, overlap=2 axes vs market_socialist profile (mechanical backfill v1)
opposed
new_keynesian
derived: score=-0.85, overlap=4 axes vs new_keynesian profile (mechanical backfill v1)
opposed
post_keynesian
derived: score=-0.78, overlap=4 axes vs post_keynesian profile (mechanical backfill v1)
opposed
social_democratic
derived: score=-0.53, overlap=4 axes vs social_democratic profile (mechanical backfill v1)

References