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Opinion
Ferdinando Giugliano

Spain’s Election Is a Radical Opportunity

A coalition between the Socialists and the centrists looks a long shot, but the benefits for the country’s economy would be considerable.

Sanchez should look to the center.

Sanchez should look to the center.

Photographer: Angel Navarrete/Bloomberg

For those wondering whether the center-left can bounce back in Europe after a difficult decade, Spain offers a glimmer of hope. On Sunday, Pedro Sanchez led the country’s Socialist Party to its first victory in a general election since 2008, winning nearly 30 percent of the vote.

The Socialists will now pick their coalition partners as they seek to form a government. The choices are an alliance with the far-left Podemos and a hodgepodge of regional parties, or a coalition with Ciudadanos, a centrist movement led by the youthful Albert Rivera. Should Sanchez and Rivera be able to reconcile their parties’ differences (a very difficult task, but one the Socialist leader hasn’t ruled out), it would offer Spain the best chance of a stable administration to keep it on the path of economic reform and recovery.