In Spain today all eyes will be on the voting on the no-confidence motion which we expect will be successful. Unless current Prime Minister Mariano Rajoy decides to resign ahead of the vote. So everything points to PSOE leader, Pedro Sánchez, becoming the new Prime Minister. It looks like he will not propose new elections immediately, which we believe will prolong the political instability in the country.
spain political crisis
It’s almost certain that the Catalan crisis will prevent the Spanish budget from being approved, which will be a blow to political stability and the duration of the current legislature.