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

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

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.