Spain: New elections in November – ING

Sandeep Kanihama FXStreet Contributor

Steven Trypsteen, economist at ING, notes that in Spain, King Felipe VI met with the main party leaders to see if Sánchez would have enough support to form a government and the king decided he has not which implies that there will be new elections on 10 November, the fourth time in four years.

Key Quotes

“The key conclusion we can draw from opinion polls is that the political landscape hasn’t changed much since the April elections. So based on these poll results, the formation of a government after the November 2019 elections will not be any easier.”

“The PSOE remains the largest party but still falls short of an absolute majority. Admittedly, the PSOE's support has increased slightly over the last couple of weeks which implies a gain of a few seats. In the April elections, the PSOE won 123 of the 350 seats in the Chamber of Deputies. On the right, we see a drop in support for Ciudadanos and a corresponding increase for the Partido Popular.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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