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Spain’s Socialists Reject Pact with Ruling People’s Party

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The leader of Spain’s Socialists Pedro Sanchez on Wednesday said his party would vote against a new government of Prime Minister Mariano Rajoy or of his People’s Party, rejecting a pact between the country’s two main parties.

Such an alliance would be one of the only combination of political forces allowing a stable government in Spain after an inconclusive election on Sunday.

“We say ‘no’ to Rajoy and his policies,” Sanchez told a news conference after meeting with Rajoy.

“The Socialists will work so that there is a new government, a government of change, with progressive ideas and capacity for dialogue,” he also said.

Reuters

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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