What happens if Mariano Rajoy does not get reinstated?

If Mariano Rajoy fails to secure enough support from Congress, King Felipe VI will hold a new round of talks with political parties in order to find an alternative candidate to try for the post of prime minister. But they will be racing against the clock: Spanish legislation establishes that once the investiture vote is held, a two-month countdown begins at the term of which the king must dissolve parliament and call new elections. (El Pais)