Spain’s Election Challenger Stays Mum on Key Economy Chief Role
(Bloomberg) -- As Spain’s election campaign kicks off Friday, one of the big mysteries for voters is who will be front-runner Alberto Nunez Feijoo’s pick for economy minister if he wins.
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“Somebody who knows about economics,” Feijoo, leader of the conservative People’s Party, replied last month when asked who he had in mind for the job. This week he went a little further, saying it would be somebody experienced who has never been part of a European political party but knows European institutions.
By keeping the names of potential candidates secret, Feijoo is trying to avoid getting dragged into a fight in the one area where Prime Minister Pedro Sanchez, who lags in polls, feels he has the upper hand: the state of the Spanish economy.
Sanchez, who’s been prime minister since 2018, called the surprise election in May after the PP crushed his Socialists in regional and municipal elections. Ahead of the July 23 ballot, he and his team are seeking to hammer the idea that Spain is doing better than many other European countries, with lower inflation and higher growth. Spanish output rose 0.5% in the first quarter, while the euro area has slipped into a mild recession.
Several possible candidates have been named in Spanish media as Feijoo’s economy minister, including European Central Bank Vice president Luis de Guindos, who has held the post in the past. De Guindos, who Feijoo has said he speaks to periodically, recently said he was not interested in the post.
Bank of Spain Governor Pablo Hernandez de Cos has also been mentioned, though he’s said he isn’t interested.
Sanchez has granted Nadia Calvino, the technocratic economy minister, a central role in the campaign even though she’s not a Socialist party card holder. The government has challenged the PP to an economic debate between Calvino and a PP official, but the conservatives haven’t responded.
Feijoo has three close advisors on economic affairs, none of whom have had significant experience outside Spain:
Juan Bravo. A tax inspector who served briefly as economy chief in the southern region of Andalusia, he runs economic affairs for the campaign, including meetings with business executives.
Pablo Vazquez. Head of a think tank set-up earlier in the year to advise the Feijoo campaign, he most recently worked for McKinsey & Co Inc and also served under previous PP governments, including as head of the state-train operator Renfe.
Francisco Conde. He served as economy chief under Feijoo when the latter was regional president of Galicia.
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