Spain’s Sanchez Calls Snap Election April 28 After Stalemate

  • Elections called after the Socialist spending plan failed
  • Prospect of snap vote extends period of political uncertainty
BlackRock’s Isabelle Mateos y Lago says the snap vote only poses a temporary risk to Spain, "nothing fundamental."Source: Bloomberg
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Spanish Prime Minister Pedro Sanchez called a snap election, pitching the country into renewed uncertainty after a parliament veto of his budget laid bare the minority government’s inability to pass key legislation.

Sanchez said on Friday that the vote will be held on April 28, when he’ll seek to renew his tenuous grasp on power and hold off the advances of three right-wing groups that could potentially form a governing alliance.