The economic and business world has received the electoral result with doubts and concern, but without hysteria. Mainly concerned by the fear of blocking and repeating elections or the configuration of an unstable executive. It was by no means a day of major falls, as the Ibex fell by only 0.29%. A percentage of fall slightly worse than that of Frankfurt (0.08%), Paris (-0.07%) or Milan (0.18%).
The Spanish employers’ association CEOE yesterday called for “responsibility so that agreements can be reached that guarantee the greatest possible level of stability and also the necessary moderation”. From Catalonia, in a tweet the employers’ association Foment del Treball pointed out that “the necessary pacts that Spanish politics will have to make should focus on economic and social challenges”, the European agenda and institutional stability.
In a statement, the CEOE urged the “sense of State and respect for the constitutional framework to preserve economic and social progress”. The employers’ association chaired by Antonio Garamendi offered the “collaboration of companies with the government that ends up being formed”.
The result of the elections makes impossible a government with only a pact of the PP with Vox, as has happened in some regional executives, because they do not reach an absolute majority. That is why the PSOE will have to seek alliances with the rest of the forces if it wants to choose to overcome the investiture.
The CEOE also took the opportunity to request that Spanish companies “stop definitively the attacks they have suffered from the institutional level”. In recent months, some members of the central government have questioned business decisions such as the departure of Ferrovial’s headquarters. There were also tensions between the Executive and the large companies of the Ibex regarding special taxes on energy companies and banks.
The employers’ request for pacts is taking shape at a time when – in his opinion – “the Spanish economy glimpses a scenario of deceleration, which will predictably become more evident after the summer”. The CEOE blamed this situation on geopolitical tensions arising from the war in Ukraine, the impact of restrictive monetary policy and high inflation. All this has an impact “on the consumption and investment of Spanish families and companies”.
The president of the National Confederation of Construction (CNC), Pedro Fernández-Alén, pointed out yesterday that the sector sees “with some concern” the results of the general elections “due to the fact that it takes time to form a government” and there is a “paralysis” of Next Generation-EU European funds while there is an Executive in office, reports Servimedia.
The clearest about the future risks was the president of Pimec, Antoni Cañete, who considered that “the country cannot consider a second election, as it would generate more uncertainty and disaffection”, and urged the parties with parliamentary representation to look for dialogue and compromise formulas that give stability to govern. Regarding Catalonia, Cañete “regretted the sharp drop in participation” and warned about “the need to reduce political disaffection” in the community.
The position of the employers contrasts with the silence yesterday of the state confederations of CC.OO. and the UGT, who want to wait until today to make the assessments despite the fact that they were very active during the campaign. On the other hand, from Catalonia CC.OO was pronounced. The organization led by Javier Pacheco requested “a progressive and plurinational pact to install a left-wing government and continue working on the creation of a new social contract”.
