The article discusses the potential negative economic consequences for Spain due to US tariffs, drawing parallels to the 2008 financial crisis. It highlights the Spanish government's efforts to diversify its markets, particularly through strengthening ties with China, despite warnings from the US. The government’s optimistic statements about the Spanish economy are contrasted with the uncertain global economic outlook.
The piece examines the potential political risks for the PSOE government, comparing the current situation to the 2008 crisis which led to the downfall of the then-president Zapatero. The decline of Podemos, a left-wing party, is contrasted with its strength during the 2008 crisis. The article mentions various ongoing investigations impacting the government and notes that the PSOE is a significantly reformed party compared to the era of the 2008 crisis.
The Spanish government has downplayed the risks of a recession, focusing on strengthening ties with China and Vietnam to diversify exports. However, the article highlights concerns about this approach, citing warnings from the US. The government's strategy is analyzed in light of the historical context of the 2008 crisis and the changing political landscape.