The new Spanish Prime Minister, Pedro Sanchez, leader of the largest left wing coalition government in the Western world, needs to get his skates on with regards to having a national budget approved - it’s now been on the table for over two years - if he intends to stop the slowdown in the economy. In the final quarter of last year, Spain enjoyed an economic sprint finish, out performing the likes of France, but it has suffered a sluggish start to the year and Brexit is bound to have an impact on the Spanish, and other EU economies, when the UK eventually pulls the plug on the billions it has been pumping into the EU block for the best part of the last 40 years.

Sanchez, during his many months in limbo when he was unable to get himself over the line and invested as Prime Minister, went on the record stating that he wanted Spain to fill the gap left by the UK and become one of the three power houses in the European Union alongside France and Germany. However, both of the latter are sliding into economic strife and the question has to be posed as to which countries are going to fill the financial void left by the UK and how - raising taxes? The yellow jackets in France will have a field day if Macron is foolish enough to go down that road while Germany is facing a political shake up and tax hikes will not be a vote winner. It’s not just the UK which may pay the price for Brexit.

Comments

The content of comment is the opinion of users and netizens and not of mallorcadailybulletin.com.

Comments contrary to laws, which are libellous, illegal or harmful to others are not permitted');

mallorcadailybulletin.com - reserves the right to remove any inappropriate comments.

Warning

Please remember that you are responsible for everything that you write and that data which are legally required can be made available to the relevant public authorities and courts; these data being name, email, IP of your computer as well as information accessible through the systems.

* Mandatory fields

Duckie / Hace 23 days

Spain cannot fill the big places in the EU, it's too insignificant. It's never really paid into the EU budget but has ridden off the back of Germany and the UK mainly for years. Spaniards should know, it was German and British money funding their economy. It's time they started pumping billions into the EU as payback. However Italy is the 3rd big one, bigger than Spain by a long chalk and a big contributor, even Austria is bigger. Pedro Sanchez is delusional.

What the Spanish don't want to do it p*ss off the British over Gibraltar, the Americans are also on that side of the fence, and Spain could find themselves facing economic obscurity.

+1-