A string of corruption cases publicized recently has eroded the reputation of Spain's political class and is seriously damaging the world's image of the country. Early evidence of shifting views was witnessed last week when interest rates spiked for the Treasury's debt issue last week.
The strongest weapon that the government has to face doubts about its ability to rule is the proposed Transparency Law that has been under development in the country's General Court since September. Approval of the proposed law could happen before summer. But the stalling Bárcenas case, which has caused a lot of duress for Peoples' Party leadership and compromised its reputation, will serve to stiffen the language of the bill even further. Despite having a majority in parliament, the PP has already started negotiations with the Spanish Socialist Workers' Party to resolve the bill's fine print to include political parties, labor unions and professional organizations in the bill. This marks a significant change though should get some applause because it subjects to the proposed Transparency Law all the exact organizations that have practiced corruption, fraud and favoritism over the years.
In addition to being subject to the national Penal Code, the changes that government wants to introduce are preventing any company implicated in a corruption case from receiving new contracts and preventing legal professionals to donate to political parties for fear of bribery and collusion scandals. Eliminating corruption will not be easy, but the proposed Transparency Law could be a key step for Spain in its struggle to regain respect and a stable democracy.
