Differing reactions: London and Madrid
The March 2004 train bombings in Madrid, which killed 192 people in Spain's worst ever terrorist attack, led to massive political fallout but did not have significant economic repercussions. The effect of last week's bombings in London on the Labour Party and the British economy remain to be seen, but few predict it will have a serious impact on the stability of Tony Blair's government. Spain's ruling party suffered a stunning defeat in an election days after the March 11 bombings. The Socialist Party (PSOE), which opposed the Iraq war and the Spanish government's position, won an unexpected victory. A British general election is not expected for several years yet.
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