Less than two years after its founding, anti-austerity party Podemos (We Can) secured third place in Spain's general election, ending the ruling conservative Popular Party's majority and positioning itself as a key player in coalition talks. While the result fell short of some supporters' expectations, it marked a significant milestone for a movement born from the 2011 Indignados protests against economic crisis and austerity.
Podemos was formed in January 2014 by Pablo Iglesias, a ponytailed university lecturer, and a group of fellow academics. The party grew out of Los Indignados, a grassroots movement that saw thousands of young Spaniards camp in Madrid's Puerta del Sol, inspiring similar Occupy protests worldwide. Podemos positioned itself as an alternative to spending cuts and corruption scandals, calling for an end to evictions, welfare guarantees, and referendums on major decisions.
In its first electoral test, the May 2014 European elections, Podemos won 8% of the vote and five seats in the European Parliament. It surged in opinion polls, capitalising on anger over unemployment that peaked at 26% in 2012 and youth unemployment near 50%. After Greece's leftist Syriza party took power in January 2015, Iglesias hailed a 'wind of change' in Europe, vowing to renegotiate Spain's debt with international creditors.
However, Podemos faced criticism from both left- and right-wing media over alleged ties to Venezuela's government and financial misconduct by senior members. The party denied wrongdoing and promised to publish tax returns. Observers questioned whether it could sustain its growth as it entered government negotiations. Despite Spain officially exiting recession, high unemployment and economic concerns remained key voter issues.
