Julio López (Attitude Gestión SGIIC)| Wittgenstein, the Austrian philosopher who took British nationality in 1939, was once in a train station talking to a friend. Suddenly, the train started to pull away and Wittgenstein ran after it, managing to get on. Behind him stood his friend on the platform. -Don’t worry, madam,” said a station attendant, “there’s another train leaving in ten minutes. -“You don’t understand. He had come to…
Brussels has been giving the new government of Pedro Sánchez economic homework to do from the first day of his mandate. Ursula von der Leyen’s Commission warned on Tuesday that Spain’s fiscal situation is “very difficult” due to high deficit and debt levels and called for “a credible medium-term fiscal strategy”. In the absence of new adjustments, the EU executive could open a sanctioning procedure against Spain for excessive deficit…
Fernando González Urbaneja | Pedro Sánchez’s new government follows the model of the previous one: on the one hand a coalition government with five portfolios from the minority group and 17 under the discipline of the president, including four described as independents, although very close to the PSOE and Sánchez. The 22 members of the cabinet belong to six parties (PSOE, PSC, Sumar, Comunes, Izquierda Unida and Más País). But…
Bankinter| Fitch confirmed Spain’s rating last Friday, based on the diversification of the economy and institutions, backed by eurozone membership. The Stable outlook is based on the expectation that the new government will continue to implement policies in line with the Recovery and Resilience Plan. Despite this, it also cautions that “increasing political polarisation” and reliance on separatist support “could pose challenges”. The outlook for GDP growth of +2.3% in…
Fernando González Urbaneja| Pedro Sánchez will announce his new government today, that of the 15th Legislature, which will not enjoy a single day of respite, harassed by his adversaries in the opposition and the coalition that supports him. So far, there have been five and a half years of Sánchez’s presidency over four legislatures: the 12th, which began with Rajoy’s presidency derailed by the first successful motion of censure in…
Bankinter| Repsol (REP) has sold a 49% stake in renewable assets of the Ebro project, 618MW, to Pontegadea for €363 million. This represents a valuation of the entire portfolio €740 million. It comprises twelve wind farms in Huesca, Zaragoza, Teruel, Valladolid, Albacete and Cádiz. Assessment: Positive news because it strengthens alliances with Pontegadea, with whom it has already closed three operations in renewables (49% of the Delta project for €245…
Morgan Stanley | Pedro Sanchez won an absolute majority in the congressional investiture vote, which should allow him to continue as Prime Minister for the next four years. However, the Spanish government will be an eight-party coalition, similar to the previous coalition government, which will include PSOE and Sumar, along with regionalist parties ERC, Junts, PNV, Bildu, BNG and CC. Analyst Rob Pulleyn expects the confirmation of the new Spanish…
Aurelio Medel / Cinco Días | All the cards have been dealt to play the 15th legislature of Spanish democracy, which should last until 2027, something that today seems a chimera. Pedro Sánchez and Yolanda Díaz, leaders of the PSOE and Sumar, will be the key figures in the next government thanks to the support of all the Basque and Catalan nationalist and pro-independence parties. To achieve this, they have…
The president of the Asociación Valenciana de Empresarios (Valencian Association of Entrepreneurs), Vicente Boluda, has expressed his “concern” about the pacts that Sánchez has agreed to continue in the Moncloa and has denounced that the Government pact of Pedro Sánchez “leads to a destructive and divisive drift”. According to him, the government is leading citizens to confrontation and struggle between employers and workers, between some regions and others… And he has…
Just one piece of information: imagine what Pedro Sánchez’s investiture speech was like yesterday when, at the end of his speech in Parliament, the journalist from El País, the Sanchista newspaper par excellence, acknowledged that “she would have preferred a less divisive speech”. Half of his speech was devoted to building a wall against the 171 MPs who will not support his investiture today, against the PP which, according to…