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And what would the arrival of a new socialist party mean for the Greens who have scooped up many left-wing voters in recent times - not to mention the Labour Party itself?

"The overall trend right now is a demobilised electorate on the left, particularly for the Socialist party, and an enormous mobilisation of voters on the right, which is capitalising on the discontent with the government," Camas said.

Nonetheless, such plans could be left in tatters were more explosive revelations to emerge, as many in the Socialist party fear.

"This is not about me, and it's not about the Socialist party," he said.

Prime Minister Pedro Sánchez has apologised to the Spanish people after an escalating corruption scandal brought down a senior Socialist party colleague.