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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SPAIN
Admitting expected defeat before the vote, centre-right PP leader Alberto Núñez Feijóo has stated in the Chamber of Deputies that "I will not be able to give you a gov't" as he faces down the barrell of a second investiture vote defeat. As noted in an earlier bullet, the split of deputies is set to mirror the 172-178 vote recorded on 27 September.
- The split in Congress remains a delicate one. The single deputy from the Canarian Coalition (CC) voted on Wednesday for Feijóo's investiture, but as expected Feijóo fell short with only his PP, the right wing Vox and the single UPN member voting in favour. The key kingmakers remain the hardline separatist Together for Catalonia (Junts).
- With Feijóo set to fail attention turns to acting PM Pedro Sanchez's prospects his own investiture vote. In the first ballot, in which an overall majority is required, he would need to have his centre-left PSOE, far-left Sumar, the two Basque parties (EAJ/PNV and EH Bildu), left-wing Catalan separatist ERC, Galician BNG, and Junts vote in his favour.
- Should Junts hold out and abstain a second ballot requiring a simple majority would be required. If Junts abstained for a second time it would leave the pro-Sanchez bloc with 171 votes to the opposition 171, making the single CC deputy the kingmaker.
Chart 1. Spain Congress of Deputies
Source: congresso.es, MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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