I think this makes a pretty interesting case that they aren't dead and the the boycott campaign wasn't stupid:
US Leftists always moan that there's no palpable way to pressure the Dems from the left, to make them pay a price and know they paid it. It's been a perennial complaint on the left in basically every advanced capitalist country since we've been alive.
But in Spain, the Indignados' election boycott campaign led to 11 million spoiled ballots -- more than the right wing victors got. And because of the EU bind, it's very hard to argue they aren't right in this case that the essential economic policies will be same no matter who's in power because they are dictated from outside.
What happens next is a question. But that's a pretty amazing first step that no one else ever accomplished with such resounding clarity. Everyone in the country knows the lefter party lost because they weren't left enough. Perhaps the local assemblies and other initiatives that are the caput mortuum of 2 months of occupation, and widely poo-poo-ed as "nothing to show for all that hullaballoo," are not nothing either?
Michael