The course of events during the last weeks reinforces the idea that we still have a long way to go in the current legislature. It has been some time since the media spotlight has no longer been on negative judicial decisions for the government each day. Furthermore, Sánchez continues to gain traction with his policy of direct criticism of the actions of the United States and Israel, which has led to the burning of the Middle East. The changes in the Council of Ministers have also once again provided the socialists with a respite, with attention focused on Carlos Cuerpo, the new first vice-president, who has become a symbol for his calm and dialoguing nature. It's like saying that another type of political practice, different from what we are used to, is possible.

We arrive at Easter, at the school holidays, the departure operations and the monas, stating that the return will be tough. Everything is rising due to the war in Iran, and since the end of the war is not in sight, the damage to our pockets from this inflation will last for a few weeks, at least. Yesterday evening, Trump pulled ten more days of ultimatum deadline out of the hat for the ayatollahs, while he systematically lies every day (and a lot, because he doesn't stop talking) just to prevent oil from continuing to rise in price and the stock markets from continuing to sink. He just keeps saying the war is won, but the Strait of Hormuz continues to be dominated by Iran, and the regime has not fallen. Meanwhile, in Spanish politics, there has been the announced change that could influence the future of the common financing system that applies to us. Yesterday, Vice President Montero resigned to go to Andalusia and his replacement will be Carlos Cuerpo, until now Minister of Finance. A doctor in economics, polyglot, technician, he does not have a PSOE membership card, a man who does not shout, an economist prepared to sit in Brussels or Washington or wherever; nothing to do with the mercurial Montero. And his place at the Ministry of Finance is taken by Arcadi España, a Valencian from President Ximo Puig's circle, who considers himself a federalist, who has often denounced how poorly funded the Valencian Community is, and who will have to move forward, seemingly with conviction, with the new system agreed with Esquerra. They say that in the PSC they are happy with España's appointment. But however federalist and aware he may be of the poor funding of the Valencian Community, can a socialist minister change anything about the distribution of money? This is the big question and the precedents are not precisely reassuring.

We arrive at Holy Week, school holidays, departure operations and the "monas" affirming that the return will be tough. Everything is rising due to the war in Iran, and since the end of the war is not in sight, the damage to our pockets from this inflation will last for a few weeks, at least. Last night, Trump pulled ten more days out of his hat for the ultimatum to the ayatollahs, while he systematically lies every day (and a lot, because he doesn't stop talking) just to prevent oil from continuing to rise in price and stock markets from continuing to fall. He just keeps saying that the war is won, but the Strait of Hormuz continues to be dominated by Iran, and the regime has not fallen. Meanwhile, in Spanish politics, there has been the announced change that could influence the future of the common financing system that applies to us. Yesterday, Vice President Montero resigned to go to Andalusia and his replacement will be Carlos Cuerpo, until now Minister of Finance. A doctor in economics, multilingual, technical, he does not have a PSOE party card, a man who does not shout, an economist prepared to sit in Brussels or Washington or wherever; nothing to do with the mercurial Montero. And his place at the Ministry of Finance is taken by Arcadi España, a Valencian from President Ximo Puig's circle, who considers himself a federalist, who has often denounced how poorly financed the Valencian Community is, and who will have to move forward, seemingly with conviction, with the new system agreed with Esquerra. They say that in the PSC they are happy with España's appointment. But however federalist and aware he may be of the poor financing of the Valencian Community, can a socialist minister change anything about the distribution of money? This is the big question and the precedents are not precisely reassuring.

Last week, the Minister of Economy, Carlos Cuerpo, admitted that the war in Iran was already having an impact on the economy. "pockets" of the citizenry And this week the Spanish government has already announced that it will meet on Friday in an extraordinary way to address the economic consequences of the conflict in the Middle East. However, the tension in the region has not affected all sectors equally; one has been particularly hard hit: the agri-food sector. It is no coincidence that Minister Cuerpo and the Minister of Agriculture, Luis Planas, met with representatives from this sector on Monday to discuss the measures to be taken. But why has the primary sector felt the effects of the war the most? Experts consulted by ARA point to three factors: the increase in the price of oil—which rose above $100 per barrel on Monday—gas, and consequently, fertilizers, as well as cereals.

"In the last two years we have observed an acceleration of consumer credit by households." The realization that this type of loan is at its "historic high," with year-on-year growth exceeding 10% – according to November 2025 figures – reaching €114 billion – a figure representing around 15% of total household loans – is due to over-indebtedness. The Council of Ministers, in its first meeting of the year this Wednesday, approved it in its first reading. It will still have to pass a second reading before being submitted to Congress for scrutiny.

Analysts at the Bank of Spain are heading into their Christmas break with a positive outlook regarding economic growth in the country. In line with other international organizations, and also with the Spanish government, the supervisory body forecasts that the Spanish economy will grow more than previously expected in 2025 (2.9%), as well as in 2026 and 2027. And they expect strong growth. Specifically, they estimate a rebound in gross domestic product (GDP, the indicator used to measure the size of an economy) of 2.2% next year, while in 2027 they project 1.9%, as detailed in the macroeconomic projections published this Tuesday. These figures represent upward revisions of four and two tenths of a percentage point, respectively, compared to the September projections.

The Spanish Treasury expects to reach a net debt issuance of €55 billion next year, the same as in the current fiscal year, focused on medium- and long-term bonds, which will account for almost 91% of the total, or €50 billion. This is the strategy of the agency, which reports to the Ministry of Economy headed by Carlos Cuerpo, and which was announced today. In total, gross issuance will be €285.693 billion, 4.18% higher than the figure for the end of 2025. This increase is due to higher debt amortizations (€126.935 billion, compared to €121.524 billion in the current fiscal year). Net issuance, initially projected at €60 billion to allow for flexibility in the event of situations such as the severe weather in Valencia, ultimately reached €55 billion this year. According to official data, "the positive performance of the Spanish economy is reflected both in the markets and in the main credit rating agencies." This is reflected in the risk premium compared to the 10-year German bond, which is the benchmark. The Treasury also highlights the improvement in public finances, with "sustained reductions in public debt and deficit." "The financing strategy is explained by the strong performance of the economy and resources (revenues). The improved rating gives a positive image to the markets. The risk premium compared to Germany has halved in the last two years, and today it is at levels not seen since 2009," highlighted the Minister of Economy, Carlos Núria Rius MontanerIn fact, it maintains the approach of 2025 and states that "it is a prudent but also flexible strategy given the context of international uncertainty." In 2025, virtually the entire program planned by the Treasury was implemented a few weeks before the end of the year.

A new opportunity has arisen for Spanish Economy Minister Carlos Cuerpo to become president of the Eurogroup, now that the current president, Paschal Donohoe, has resigned to head the World Bank. Air Europa also has a new CEO following the departure of Jesús Nuño de la Rosa, and Josep Santacreu will be the new president of ASCAME. These are the week's most notable appointments:

The tariffs imposed by the United States government on products manufactured in European Union countries could have a negative impact on Spanish exports worth €15.1 billion, although if the indirect impact were added, the figure could rise to €22.7 billion, as explained by the Minister of the Corps this Monday in an appearance before the Congress of Deputies.

The European Union does not lose hope with Donald Trump and wants to take advantage of every last moment to try to reach a trade agreement with the United States. Despite the White House's announcement this Saturday of increasing tariffs by 30% in the European bloc, Brussels maintains a conciliatory tone and insists that its priority is reaching an agreement to avoid an escalation of the conflict. Therefore, the President of the European Commission, Ursula von der Leyen, announced this Sunday that the European club is postponing the entry into force of the retaliation it has prepared in case negotiations with the US administration fail.

The third time's not the charm either. The Minister of Economy, Carlos Cuerpo, has failed in his attempt to preside over the Eurogroup –the monthly meeting of eurozone finance ministers– and withdrew just hours before the vote was to take place. The Spanish Socialist's defeat follows the failed candidacies of his two predecessors for the Economy portfolio, fellow Socialist Nadia Calviño and Popular Party member Luis de Guindos. Thus, the current leader of the organization, Irish Conservative Paschal Donohoe, has reappointed his mandate for another two and a half years.

Banco Santander took control of Banesto in 1998, but it wasn't until 2013 that the latter disappeared, fully integrated into the former. Now, that scenario could be repeated, but with BBVA and Banc Sabadell as protagonists, and the reason is the condition, based on reasons of public interest, that the Spanish government has decided to add to the hostile takeover bid. This Tuesday's Council of Ministers agreed to require BBVA to keep Banc Sabadell separate for three years, with the possibility of extending it for another two years, for a total of five years.

Luis de Guindos, currently Vice President of the European Central Bank (ECB), was the first Minister of Economy who, with the 2007 Competition Law in hand, decided in 2012 to submit a takeover bid to the Council of Ministers, citing reasons of public interest. This involved the acquisition of La Sexta by Antena 3. He was the only minister of his rank who could claim that honor until Tuesday afternoon, when the current Minister of Economy, Carlos Cuerpo, decided to do the same in the case of BBVA's hostile takeover bid for Banc Sabadell.

Economy Minister Carlos Cuerpo said this Monday that, for now, there is no "significant impact" from the new tariffs imposed by US President Donald Trump, so he rules out, for the moment, the possibility of the State approving direct aid measures for businesses. "Right now, we are not yet seeing any significant impact in the aggregate data," the Economy Minister stated at the press conference following the sectoral conference to monitor the tariff situation with the autonomous communities.

Spain does not give up and returns to test the waters to preside The body that brings together the eurozone's finance ministers each month: the Eurogroup. The two previous finance ministers in the Spanish government, the conservative Luis de Guindos and the progressive Nadia Calviño, both tried unsuccessfully to do so. Now, however, the current top finance official at the Moncloa Palace, Carlos Cuerpo, is making a strong comeback and has already contacted member state delegations to the European Union (EU) to find out if they would support him in a bid to lead the body, according to the magazine. Political and diplomatic sources confirm to ARA.

Carlos Cuerpo (Badajoz, 1980) often generates laughter among those attending press conferences after cabinet meetings. "It's a very good question," he concedes when a journalist has ever touched his nerves. His cabinet colleague, Pilar Alegría, also disarmed him when asked if Cuerpo was a "bad person," as Vice President Yolanda Díaz had let slip when they were discussing the reduction of the working day. "You know that saying that the face is the expression of the soul? Well, I see my colleague's face and some expressions don't match, right?" Alegría said, and Cuerpo burst out laughing. With a sense of patience, he answers in off the record all the doubts posed by journalists and does not avoid making statements in front of microphones, unlike other ministers more allergic to the press.

With Pedro Sánchez traveling to Vietnam and China, the People's Party (PP) has found itself with the perfect day to focus its attacks on the First Vice President of the Spanish government, María Jesús Montero. In the Senate, he used his absolute majority to censure her, and during Wednesday's control session in Congress, the conservative party even demanded her resignation. The staging of a fierce confrontation with the Spanish government contrasts with the good rapport that has developed between the PP's economic spokesperson, Juan Bravo, and the Minister of Economy, Carlos Cuerpo, the person in charge of negotiating with the groups on measures against US tariffs.

The Minister of Economy, Carlos Cuerpo, has taken advantage of his visit to Barcelona, ​​​​in the framework of the Mobile World Congress (MWC) this Wednesday, to send a message of reassurance in case the US government of Donald Trump approves new tariffs: "From Europe and Spain we will not be naive; a," he said.