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Spanish election: It’s the economy, stupid

Spanish Economy Minister Luis de Guindos has told CNBC he believes the Spanish electorate is “mature” and will not take the country back to 2010 or 2011 when it heads to the polls in less than three weeks’ time.

“I do not believe that the Spanish population wants to take Spain back to the position we were in in 2010 or 2011, I am totally sure they would not repeat that mistake,” De Guindos told CNBC Tuesday.

“I think that the Spanish population is mature, they are wise. They know perfectly where we are stood only four years ago and where we stand today. And I think that this contrast is a clear indication of the efforts that we have implemented.”

De Guindos is a member of Spain’s conservative People’s Party led by Mariano Rajoy which took over from the socialists in 2011.

CNBC [1]

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Craig Erlam

Craig Erlam [4]

Senior Currency Analyst at OANDA [5]
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.