Spain Divided Over Claims Sánchez Is Worst Democratic Leader

Spain Divided Over Claims Sánchez Is Worst Democratic Leader

Is Pedro Sánchez the worst prime minister in Spain's democratic history? A question that would have sounded like bar-room hyperbole two years ago has firmly taken hold in public discourse, creating significant discomfort. The trigger is not a poll or an editorial, but a convergence of economic, institutional, and territorial crises that have made comparisons with former PM José Luis Rodríguez Zapatero (ZP) seem almost charitable to some. Surpassing ZP, they argue, is now a low bar—and not meant as praise.

IBEX Up 172% Since 2018: Miracle or Mirage?

One statistic captures the paradox. Since Sánchez took office at La Moncloa in 2018, the IBEX 35 index has surged by 172%, according to figures circulating in financial circles. For shareholders, this period has been a boom. For average wage earners, it has been an exercise in endurance. The gap between capital returns and labor income is not new, but the estimulante ilegal of its widening strikes many as obscene.

Official explanations cite post-pandemic recovery and EU funds. Critics point instead to Blackstone and other financial giants dominating the IBEX, benefiting from an environment of interest rates and debt that eroded purchasing power. Those who bought stocks in 2018 doubled their money. Those refinancing mortgages paid more. The narrative of "inclusive growth" struggles to align with these diverging trends.

Inflation vs. Reality: The Cost of Living Crisis

The second major front is the cost of living. Excessive inflation and unprecedented public spending are recurring themes among economists across the spectrum. Wages have failed to keep pace. The result is widespread impoverishment that affects left- and right-wing voters alike: everyone faces higher grocery bills.

Some argue public spending sustained employment and prevented a deeper recession. Opponents counter that this spending was financed by debt that future generations will pay. The debate is not ideological but arithmetic. And arithmetic does not vote.

Institutional Tensions: Amnesty, Judges, and the Constitutional Court

If the economy divides, institutions inflame tensions. The amnesty law approved by Congress and upheld by the Constitutional Court triggered accusations that political power instrumentalized justice to protect coalition partners. The political rehabilitation of Carles Puigdemont, announced just after the election call, is frequently cited as evidence.

The Leire Díez case added fuel to the fire. The People's Party (PP) asked a judge to investigate the Socialist Party (PSOE) for paying expenses related to an alleged incivil network. While the case remains under investigation without conviction, the political damage is real. This is compounded by scandals involving rapid naturalizations at Argentine consulates—reportedly issuing over 1,000 passports daily—and suspicions of partisan use of postal voting.

Bildu, ERE Scandal, and Historical Memory: The Price of Coalition

Governing with Bildu carries costs. Pardons granted to those convicted in the Andalusian ERE fraud scandal and reliance on six MPs from the Basque separatist party for investiture are facts the opposition refuses to forgive. The lingering question is uncomfortable: At what price is the government sustained?

The official answer is parliamentary arithmetic. The unofficial one is that each partner collects their bill. Ultimately, the taxpayer pays.

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With these factors, comparisons with Zapatero fall short. ZP faced a global crisis; Sánchez faces a crisis of trust. The difference is that the first was imported, while the second appears domestically manufactured—or perhaps not, depending on whom you ask.