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PM Sanchez Confirms He Is Staying In Office

SPAIN
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Spanish PM Pedro Sanchez has announced that he will not be standing down from office amid the opening of a corruption investigation into his wife. For days, Spain's newsflow has been dominated by speculation as to Sanchez's plans after he announced that he would be evaluating his political future after the court announced its investigation.

  • Sanchez's decision to remain in office does not mean that potentially market-moving political risk is in the rear-view mirror. Catalonia holds its snap regional election on 12 May, and given the elevated political rhetoric from both pro- and anti-independence parties this vote could cause issues between the centre-left pro-union PSOE and the pro-independence Junts, which the PSOE relies on for a majority in the Congress of Deputies. Given the political furore Sanchez could also face a confidence vote in parliament, even with his decision to remain in office.
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Spanish PM Pedro Sanchez has announced that he will not be standing down from office amid the opening of a corruption investigation into his wife. For days, Spain's newsflow has been dominated by speculation as to Sanchez's plans after he announced that he would be evaluating his political future after the court announced its investigation.

  • Sanchez's decision to remain in office does not mean that potentially market-moving political risk is in the rear-view mirror. Catalonia holds its snap regional election on 12 May, and given the elevated political rhetoric from both pro- and anti-independence parties this vote could cause issues between the centre-left pro-union PSOE and the pro-independence Junts, which the PSOE relies on for a majority in the Congress of Deputies. Given the political furore Sanchez could also face a confidence vote in parliament, even with his decision to remain in office.