Could Spain's free-spending government make it the next Italy?

Spain's new government could do a deal with the country's populist parties, leading to a fiscally irresponsible spending splurge, just like Italy.

Festivities in Madrid © Alberto Sibaja Ramirez/Alamy Live News

Spain is set for stasis
(Image credit: Festivities in Madrid © Alberto Sibaja Ramirez/Alamy Live News)

Spanish prime minister Pedro Snchez's decision to call a fourth election in four years was "a bet that failed", says The Economist. Snchez's socialists emerged as the biggest party, but are no closer to being able to form a majority in the country's fractured parliament than they were before Sunday's vote. "Much hard bargaining lies ahead."

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Markets editor

Alex is an investment writer who has been contributing to MoneyWeek since 2015. He has been the magazine’s markets editor since 2019. 

Alex has a passion for demystifying the often arcane world of finance for a general readership. While financial media tends to focus compulsively on the latest trend, the best opportunities can lie forgotten elsewhere. 

He is especially interested in European equities – where his fluent French helps him to cover the continent’s largest bourse – and emerging markets, where his experience living in Beijing, and conversational Chinese, prove useful. 

Hailing from Leeds, he studied Philosophy, Politics and Economics at the University of Oxford. He also holds a Master of Public Health from the University of Manchester.