In Spain, Prime Minister Pedro Sanchez called a snap election for 28 April 2019 after his budget proposals failed due to a lack of support from his Catalan coalition partners. There is less risk of a debt crisis than in Italy since Spain’s budget deficit currently stands at 3.1% (Italy: 2.4%) and its debt/GDP-ratio is 98.1% (Italy 131.2%). Furthermore, while Pedro Sanchez's Social Democratic PSOE leads the opinion polls, the most likely outcome of the election according to the latest opinion polls is a governing coalition of the centre-right Partido Popular (PP), together with the liberal Citizens Party and the right-wing nationalist of Vox. While Vox is comparable to other rightwing populist parties in Europe, their vote share is likely going to be around 10%, making them the junior partner to the PP and the Citizens Party.
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(Almost) Daily Market News Update
- Published:
18 Feb 2019 -
Author:
Joachim Klement -
Pages:
6
In Spain, Prime Minister Pedro Sanchez called a snap election for 28 April 2019 after his budget proposals failed due to a lack of support from his Catalan coalition partners. There is less risk of a debt crisis than in Italy since Spain’s budget deficit currently stands at 3.1% (Italy: 2.4%) and its debt/GDP-ratio is 98.1% (Italy 131.2%). Furthermore, while Pedro Sanchez's Social Democratic PSOE leads the opinion polls, the most likely outcome of the election according to the latest opinion polls is a governing coalition of the centre-right Partido Popular (PP), together with the liberal Citizens Party and the right-wing nationalist of Vox. While Vox is comparable to other rightwing populist parties in Europe, their vote share is likely going to be around 10%, making them the junior partner to the PP and the Citizens Party.