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Spain's former prime minister quits party leadership post

Less than a week after his ouster in a no-confidence vote, former Spanish Prime Minister Mariano Rajoy said he will resign as leader of the center-right People's party, a position he held since 2004, the Financial Times reported.

Rajoy told members in a resignation speech June 5 that his decision was "best for me, best for the party and best for Spain."

The former prime minister will remain the leader in a caretaker capacity until the party chooses his successor, according to the FT. "The time has come to put an end to this story," Rajoy said. "The PP must continue advancing under the leadership of another person."

The People's party remains the largest party in Spain by number of parliamentary seats. Potential leaders include Alberto Núñez Feijóo, president of the regional government in Galicia; María Dolores de Cospedal, the party general secretary and former defense secretary; and Soraya Sáenz de Santamaría, the former deputy prime minister, the FT said.