The President of the Spanish Government, Pedro Sánchez, has surprised both allies and adversaries at the Cercle d'Economia by announcing that this very week the order for the elaboration of the 2027 budgets will be published in the BOE. Needless to say, in the midst of a judicial storm against the PSOE and with the legislature about to enter its final year, the possibility of these accounts moving forward is almost non-existent. If it wasn't possible in 2024 and 2025, when there was still half a term left, it's even less so now. What, then, is behind this plot twist from the Spanish President?

There was great interest in seeing the surprise that Pedro Sánchez was preparing in his speech at the closing of the annual meeting of the Cercle d'Economia, that is, the rabbit he would pull out of the hat. At last year's edition, for example, he announced an unprecedented consultation on BBVA's takeover bid for Banco Sabadell, a merger that failed last October.

Spain is "better positioned" than others in the energy crisis due to the closure of the Strait of Hormuz, due to the war in Iran, but it will not be able to escape its effects. This was stated by the presidents of Repsol, Antoni Brufau, and Naturgy, Francisco Reynés, during a round table within the framework of the Annual Meeting of the Cercle d'Economia, held in Barcelona.

The leader of the PP, Alberto Núñez Feijóo, did not come willing to approach the Spanish government in his speech to the audience of businessmen at the annual meeting of the Cercle d'Economia, which is celebrating its second day. Despite the request from the president of the Cercle, Teresa Garcia-Milà, to reduce disputes while awaiting judicial rulings and to prioritize consensus on essential issues, from housing to the defense of Europe's strategic autonomy, the popular president went his own way. Of course, without painting as bleak a picture as he did a year ago at this same meeting, with a speech that some businessmen have described as "flat".

The President of the Spanish Government, Pedro Sánchez, and the leader of the PP, Alberto Núñez Feijóo, will attend the annual meeting of the Cercle d'Economia to be held from June 1 to 3 in Barcelona, the first meeting with Teresa Garcia-Milà as president of the institution. This year the central theme will be Europe's strategic autonomy in the context of the war in the Middle East, which adds to the Russian invasion of Ukraine, and the difficult relations of the Old Continent with the administration of Donald Trump in the United States.