In these blog post I tend to stay away from my previous profession, but sometimes a vice from the past calls and I feel the need express my feeling. The Brexit thing and the impact on Spain is such an ocassion.
The prospect of a U.K. secession had already prompted warnings of a slowdown in European growth and the possibility of other members seeking to leave the bloc. Periphery economies such as Spain are now seen as most vulnerable because of their weaker fiscal positions and higher unemployment. Lower growth would of course be a big step back in the way up that we saw during the last few years.
Adding to the uncertainty, Spain holds elections Sunday, with polls forecasting no outright winner, fuelling speculation about its economic path as political leaders negotiate to form a government. If anti-austerity party Podemos overtakes the socialist party as the second-biggest political force after acting Prime Minister Mariano Rajoy’s People’s Party, that will also not help to stabilise the political and economic situation here either.
As the outcome of the Spanish elections won’t be substantally different from the one in December uncertainty will remain here, but thanks to you Brexit chaps quite a bit more is added to it. But at least the sun will keep on shining here.