Spain

Panama Papers claim another ministerial victim


Published

The latest victim of the Panama Papers revelations to be forced to announce his resignation is Spain’s Minister of Industry, Energy and Tourism, José Manuel Soria López. You can find the formal text of his resignation here.

The minister is alleged to have links to an offshore company based upon the island of Jersey but which emerged as part of the Panama Papers investigations. He announced that he was standing down, although he denied any wrongdoing, to limit the damage to the caretaker People’s Party government.

Currently the People’s Party (PP) is running the government in caretaker mode after they lost their overall majority in the 20th December 2015 general election. Prime Minister Mariano Rajoy declined to try and form a government even though the centre-right PP is the largest party when it became clear that there were not enough partners for them to form a majority coalition government. In the past few months the left have been trying to form a government but can’t agree amongst themselves and in the latest opinion polls the PP has been rising as the left argue. Increasingly it looks as though there will be a fresh general election later this year.

Economy Minister Luis de Guindos will take on the Industry, Energy and Tourism in an interim capacity.

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