Conventional wisdom, which we'll assume to be true for the moment, tells us that if the people responsible for the horrific bombings in Spain were al Qaedaish or Islamic extremists or something similar, rather than ETA terrorists, that it could cause the defeat of Aznar's party, PP, in the elections tomorrow. The reason being that Iraq was not popular with the Spanish people, and if Aznar directed resources to fighting a non-threat instead of spending time to find real threats, or if the terrorism is a response to their participation in the Iraq war, then he and his party obviously failed in their duty.
On the other hand, I would say that conventional wisdom in this country would be that a major al Qaedaish terrorist attack in this country before our election would be good for the Republicans and Bush. I have no idea if this, or the other, conventional wisdom is true, but the contrast is interesting.