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Grand coalition in Spain is favorite option for investors

Xinhua, January 26, 2016 Adjust font size:

Spain's acting Minister of Economy and Competitiveness, Luis de Guindos, said on Monday that a grand coalition government in Spain was the favorite option for investors.

According to local media, de Guindos explained that a government including the socialists, left-wing Izquierda Unida and left-wing Podemos would be "very unstable" and that a grand coalition including the Popular Party, the socialists and the right-wing Ciudadanos was the investors' favorite option.

In Spain's general elections held in December last year no party won absolute majority to form government. Last week Spain's acting Prime Minister Mariano Rajoy declined an offer by Spanish King Felipe VI to form a government saying he had not enough support.

Meanwhile, Podemos leader, Pablo Iglesias, said he was willing to form government with the socialists and Izquierda Unida, but so far, any agreement has been reached.

"Spain is on the path of recovery and this process can be affected by a government that reverts the reforms carried out and has a wrong political agenda," de Guindos said, pointing out that investors are worried by a loss of confidence in the Spanish economy, which could lead to problems in the country's economic growth and job creation. Endit