Prime Minister Jose Luis Rodriguez Zapatero, who has unerringly and almost single-handedly guided Spain from prosperity to recession and 20% unemployment, has announced that he will not be seeking a third term as Prime Minister at the next general election.
Señor Zapatero, whose popularity is at an all-time low, said it was the right decision for the country, the Socialist party and his family and he will stand down when a successor has been chosen. This procedure will begin after the May elections.
Zapatero came to power in 2004 in the wake of the Madrid train bombings and at a time when the economy was booming. He has since guided Spain into a deep recession with national unemployment at 20%.
The Socialists are currently well behind in opinion polls, as much as 15%, but many in the party believe that the announcement will boost their chances of clinging to power in the municipal elections in May.