BoT 602

Business over Tapas

A digest of this week's Spanish financial, political and social news aimed primarily at Foreign Property Owners:

Prepared by Lenox Napier.  Consultant: José Antonio Sierra

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October 2 2025            Nº 602

 

Editorial: 

There are certain subjects which are based on cast-iron certainties which through experience, prejudice and tribalism, leave us convinced of the integrity of our own opinion. Belief in a flat-earth is a good example of this – as is anything to do with politics.

Is Begoña Gómez, the wife of Pedro Sánchez guilty of some wrongdoing, yea or nay? Well, you know, everyone in Spain has already decided.

As to what she may have done, or law she might have broken… Nobody can answer that, but anyway: ‘to the guillotine with her’!

Despite any evidence after 18 months of looking under stones, Judge Peinado has failed to uncover anything, but give him his due, he will keep on gamely searching until Sánchez is out of office and the whole exercise will lose its purpose.

I mean, there must be something. None of us is perfect. I once stole a chocolate bar from Woolworths (come to think of it, perhaps that’s why they went broke).

The original complaint came from Manos Limpias, an association of unrepentant Francoists that are rarely taken seriously by anyone placed anywhere to the left of Atila the Hun. ‘With more than 6,000 members, Manos Limpias does not submit accounts or hold the meetings required by its by-laws. Furthermore, it has no representation in any workplace, and its representation in the civil service is unknown…’ Them.

Early last year, Manos Limpias had handed in a wad of press-cuttings from outfits like OKDiario and El Debate suggesting that Begoña was a bad ’un. One particular complaint, about obtaining a credit under false pretences, turned out to have been a woman from Cantabria with the same name. Manos Limpias by the way was the group that complained about the Infanta Cristina (she was later absolved) and let’s see, ‘… They are known for appearing as accusers in high-profile political court cases. Although most of them never come to fruition’.  By accident (or design), their complaint against Begoña fell into the hands of Judge Juan Carlos Peinado – of whom Gabriel Rufián said last week ‘Everyone knows who he works for’ – that’s to say, the conservatives (his daughter is a PP politician). ‘Since that first complaint, almost a year and a half ago, this investigation has grown relentlessly. Nothing has been closed, even though Peinado's accusatory theories are failing due to a lack of evidence. The case has grown with more alleged crimes, each one more difficult to justify…’

There are better than 9,000 pages compiled in 19 volumes, four people under investigation, and more than thirty witnesses questioned, including Prime Minister Pedro Sánchez, his Minister of Justice Félix Bolaños, and several Ibex company presidents. These are the key figures in the case that Peinado has been pursuing for almost eighteen months against Begoña Gómez. We read that ‘Peinado sends Begoña Gómez to trial with a ruling lacking evidence of any crime’.

Last Wednesday, he told her that if she finally faces trial for a charge of embezzlement attributed to her for the work performed by her assistant, ‘a jury will determine her guilt’.

Juries in Spain are nine people ‘chosen by chance’.

As we saw above, everyone these days has made up their mind about their politics and nothing, certainly not any essay of mine, will persuade them differently – and we also know that the jury will be composed of people from Madrid, where at least 55% are conservative voters. Does anyone believe that a jury chosen from among Madrid residents to judge Pedro Sánchez's wife would not be tainted? Faced with such a controversial and politicized issue, which occupies hours and hours on every radio and television channel, are there any citizens left who don't already have a preconceived opinion?

So, what is this all about?

Embarrassing Pedro Sánchez for as long as possible, with his wife, his brother (another Manos Limpias case without merit) and his Attorney General (yet another one). We can’t catch him for his economic policies – Spain is getting full approval from the credit agencies – but we can wear him down and open the door to the prospect of an undoubtedly inept future PP/Vox combination.

A case like this, says the Google AI, can take about ten months before the jurors (and the reporters) arrive. What if she loses (La Cope, the bishops’ radio, kindly reckons her chances of losing the case stand at 92.8%)? One newspaper, the ABC, says she could get between two and six years of prison, although ‘the crime of embezzlement (Peinado’s current accusation), can only be attributed in principle to a public official (un funcionario): a condition that Gómez does not hold’.

Would Pedro Sánchez then have to quit?

Probably.

But I’m just venting here – Begoña shouldn’t think of this as ‘lawfare’, more as an historic example of the vengeful masses clamouring for her husband’s head.

…...

Housing: 

From Spanish Property Insight here: ‘A new national survey reveals that Spaniards see the housing crisis as their number one problem, with most blaming a shortage of new home building and the impact of tourist rentals’. 

From the New York Times here: ‘$1.8 million homes in Madrid. For just under $2 million in the Spanish capital, buyers can find renovated two-bedroom apartments in heritage buildings and newer semidetached houses’. 

‘Traditionally, squatters in Spain have targeted vacant houses or centrally located flats. In recent months, however, the trend appears to have shifted, with a rise in the unlawful occupation of country homes, farmland and even parking spaces’. Thus says Idealista. 

From International Adviser here: ‘Non-residents of EU can now reclaim tax relief on Spanish property rental income – report’ 

Video on YouTube: ‘España: los estadounidenses que huyen de Trump’ –  ARTE.tv. 

A village in Salamanca called Coca de Alba has only got one bar – and worse still: its shut. The town hall says they will rent it to an appropriate barman for one euro a year. 

…...

Tourism: 

From The Spanish Eye here: ‘The EU’s Entry/Exit System to launch within weeks – what it means for UK visitors to Spain. For Spain, the most visited country in the EU by British tourists, the change will have a particularly visible impact at airports, ferry ports and land borders’. It concerns all non-EU citizens really – unless you have a TIE residence card. From The Guardian here: ‘Will the EU’s new fingerprint entry system cause gridlock?  The scheme, which operators feared would cause chaos at airports, ports and railway stations, is finally coming into force’. The Daily Mail says: ‘Brits over 70 are to be exempt from a new fee charged to tourists visiting Spain under a new EU travel scheme, it's been announced this week’. 

…...

Finance: 

Murcia Economía has: ‘Spain regains an 'A' rating from all rating agencies thanks to the strength of its economy. Moody's and Fitch raise the sovereign rating following S&P's recent upgrade, a milestone not achieved since the financial crisis’. 

The employers’ association boss Antonio Garamendi put his foot in it last week while talking about the CEOE’s rejection on the reduction of the working day: "Do you think tennis champion Carlos Alcaraz works 37 and a half hours a week? No." 

Xataca has some ship-building news here: ‘The United Kingdom will be just the first customer: Spain is building a colossus in Galicia to build warships like hotcakes. In a geopolitical context marked by rearmament, this mega-factory positions Navantia as a top-tier partner in the international defence market’. 

‘Spain’s car sales market received a welcome boost with September’s figures the highest since before the Covid-19 pandemic. Passenger car sales clocked up 85,167 registrations last month- up 16.4% on the previous year…’ Item from The Olive Press here.

…...

Politics: 

Feijóo's deteriorating leadership in the PP has put him on par with Casado when he was ousted. Fewer and fewer Spaniards trust the current opposition leader says InfoLibre here. 

Sánchez rejects Feijóo and says the PP's policies are set by "Aznar, Ayuso, and Abascal". 

Yolanda Díaz (Sumar) asserts that "Spain's main problem is not immigration," but the PP. "One migrant contributes far more than the 137 PP deputies who consistently vote against what has allowed Spain to advance in recent years," the vice president stated’. elDiario.es has the story here. 

Ara brings us ‘The cute little fascist, sexist, and racist girl from Tarragona who is a spokesperson for the global far right. Ada Lluch recently gained prominence for her appearance at the Tommy Robinson demonstration in London’. El Liberal backs this up with: ‘Ada Lluch, the young woman from Tortosa who now leads Trumpism in Europe. With nearly 400,000 followers on Twitter, the Catalan woman was one of the protagonists of the historic anti-immigration march held in London earlier this month’.  

From ABC here: ‘The PP's Deputy Secretary for Sectoral Coordination, Alma Ezcurra, accused former Prime Minister José Luis Rodríguez Zapatero this Monday of being the "mastermind" behind the "whitewashing" of ETA 20 years ago’. Ah yes. ETA.

Ayuso interviewed on Tele5: "The Lehendakari (president of the Basque Country) threatened me with that 'Ayuso entzun, pim pam pum' thing, which seems worrying to me (as in pistol shots). And his party is also a partner of the Government". Actually, what he said was: "Ayuso entzun, Euskadi euskaldun." That’s to say, "Ayuso, listen: in Euskadi we speak Basque". The story is at El Huff Post here. 

El País here: ‘Sánchez's two worlds: applause abroad, maximum pressure at home. Spain's position on Gaza emerges strengthened in New York, while in Spain, the judiciary, the opposition, and even some partners are putting pressure on the government’. 

The debate in the USA – which side is the violent side, Magats or Antifas? Over here in Spain, which side receives more attacks against its offices (paint rather than AK-47s – after all, this is Europe). The answer, unsurprisingly, is the PSOE. Público: ‘The map of political violence: the left has suffered nine out of every ten attacks on party offices so far this term’. 

Could you say that again, slowly? The president of the Junta de Andalucía Juanma Moreno has backed the leader of the Partido Popular Alberto Núñez Feijóo's proposal to make knowing Spanish a requirement for residency. On Monday, Moreno warned of the "pull effect" that subsidies have on foreigners. The Junta's president's suggestion was preceded by Feijóo's proposal to establish a special visa that prioritises immigrants who "best understand Spanish culture"…’ Item found at Sur in English here. Suddenly, we’re all ‘ex-pats’ again. 

…...

Europe: 

From Fight Chat Control here: ‘The EU (still) wants to scan your private messages and photos. The "Chat Control" proposal would mandate scanning of all private digital communications, including encrypted messages and photos. This threatens fundamental privacy rights and digital security for all EU citizens’. Regarding Spain – we read ‘Government supports implementation’. 

Tourist saturation. Some solutions from Dubrovnik, the city that prefers to lose money rather than be "destroyed" by mass tourism. Examples: Limiting visitor numbers, refusing cruise ship money, and even banning wheeled suitcases.

Intrigue in Morocco from El Independiente here: ‘Morocco, facing the end of the Mohammed VI era: "A transition is not being prepared, but rather a political makeover". The succession fuels the war between the Alawite power players. "The king is so weak that some actors could try to influence the future," they warn’. 

…...

Israel: 

El Periódico recalls when Sánchez stated back in November 2023 to Netanyahu in a meeting in Jerusalem following the murderous attack by Hamas gunmen: ‘…"We must take the necessary steps toward a humanitarian and lasting ceasefire. This is what we ask of the Israeli authorities, with whom we have maintained sincere exchanges".

He continued to regularly denounce the massacre of civilians, women, and children. David Hatchwell, one of the visible heads of the Israeli lobby in Madrid and president of the Spanish-Jewish Foundation, has declared: "Sánchez went to Israel to appear as the strongman of Europe when in reality he wanted to exploit a political situation. Hamas's subsequent congratulations to Sánchez speak for themselves".

Sánchez remained on the front lines in the face of attacks against him from the Netanyahu government, Hatchwell, the ACOM, the Partido Popular of Alberto Nuñez Feijóo, and above all, the fury of the statements and messages from José María Aznar, Isabel Díaz Ayuso, and Miguel Ángel Rodríguez, who portray the Spanish government as an ally of Hamas. King Felipe VI understood this...’

With one voice, the two leaders spoke out against the slaughter in Palestine at the United Nations last week. From Infobae here: ‘Felipe VI's UN speech on Gaza has raised eyebrows among the far right: "It's as if Sánchez had kidnapped him".

"We cry out, we implore, we demand: stop this massacre now", the monarch declared last Wednesday at the United Nations General Assembly’.

elDiario.es has: ‘A pro-Israeli lobby and the far-right revolt against Felipe VI's speech at the UN: "The king is no longer a friend of the Jews". According to Action and Communication on the Middle East (ACOM), he repeated "libels, lies, and hoaxes dictated by a radical government deeply hostile to Jews"’. 

From Demócrata here: ‘No representative of the Spanish delegation was observed present during Israeli Prime Minister Benjamin Netanyahu's speech at the UN General Assembly last Friday. Sources from the Spanish Ministry of Foreign Affairs, consulted by Europa Press, confirmed the absence without providing additional details’.

From El País here: ‘Spain vetoes the passage of US weapons to Israel through Rota and Morón. The six F-35 fighters delivered by Washington in recent months have been using the US Lajes base in the Azores’.

Público says that there’s an exhibition of photos of the Gaza genocide at the Thyssen-Bornemisza Museum in Madrid ‘to raise awareness’. 

‘The protests at La Vuelta a España lit the fuse: pressure mounts on UEFA and Eurovision to expel Israel. The massive demonstrations during the cycling event in Spain precede announcements of withdrawal by its sponsors, boycotts of prestigious events, and the first cracks over the participation of Israeli teams in European football’. From elDiario.es here. 

From Spain in English here: ‘Spain joins Italy in sending a navy ship to protect Gaza flotilla after drone attacks’. The flotilla is now (5.00pm Wednesday) in the Israeli ‘exclusion zone’ and at The Huff Post (US) reports ‘As the flotilla nears Gaza, activists say they are prepared for Israel to intercept. The Global Sumud Flotilla of nearly 50 boats and 500 activists remained undeterred in its goal to break the Israeli blockade and reach Palestinians’. *By the time you are reading this, the situation will have changed. 

Bloomberg Editor-in-Chief John Micklethwait spoke with Spanish Prime Minister Pedro Sánchez in a wide-ranging interview. The conversation touched on his disagreements with President Donald Trump over migration, the Spanish economy, solutions to Spain's housing problems, and his decision to run for re-election in 2027. They spoke at the United Nations. Video (in English) on YouTube here.

Will Netanyahu and Trump’s agreement on Monday bring peace? Here’s The Guardian. 

…...

Corruption: 

From The Times here: ‘Corruption cases are a right-wing smear, says Pedro Sánchez ally

Salvador Illa, the Catalan regional leader, accused judges of political motivations and said claims against the Spanish PM’s inner circle had been concocted’. 

…...

Courts:

It’s funny that the Spanish legal system will likely take down our best president to date. They haven’t managed it yet, but ‘están en ello’. From El País here: ‘The lamentable and inexplicable errors of the Spanish justice system. The National Court has released Mocro Maffia (here) bosses twice in less than two years, an error that must be investigated’. 

The big news of the weekend was supposed to be that Begoña Gómez was going to appear before Judge Peinado on Saturday afternoon, with a hostile gathering outside from Hazte Oir waiting for her. But she didn't go. Because she wasn't required to, according to the law. 

From Diario Sabemos here: ‘Ricardo González Conde Díez, the Promoter of Disciplinary Action within the CGPJ, is opening an investigation into the judge who intends to bring Begoña Gómez to trial. Recently, Judge Peinado has filed lawsuits against ministers Óscar Puente and Fernando Grande-Marlaska for calling him a "prevaricator (‘evasive or misleading conduct’)". Others, such as journalist Ernesto Ekaizer, talk show host Antón Losada, and Pablo Iglesias, as well as Fernando Jabonero, the activist who denounced the judge's villa in La Adrada (Ávila) for alleged planning irregularities, will also have to appear in court…’ 

The Judiciary has yet to issue a ruling on the investigation into four complaints against Peinado after almost four months. The CGPJ is maintaining open information proceedings in relation to complaints filed between June 4 and July 16 against the investigator’. An item from Público here. 

…...

Media: 

La Marea says that ‘ACOM (a Spanish organization that promotes relations between Spain and Israel) has signed a contract with OkDiario to publish Zionist propaganda for 75,000 euros annually. One of the clauses of the contract obliges the outlet "not to disseminate content that could undermine the good image of ACOM". This organization has been known for its denunciations of anyone it believes threatens the interests of the State of Israel. OkDiario has confirmed the signing of the agreement with ACOM’. 

Opinion from InfoLibre here: ‘In Spain, a political demolition machine has taken hold, operating in broad daylight. Its names are Manos Limpias, Hazte Oír, and Abogados Cristianos, but they are only the visible tip of the iceberg. Their goal is proven: to launch unsubstantiated accusations, organize hate campaigns, and entangle the justice system in ideological wars. But this machine would not function without the political and media patrons who provide them with shelter, legitimacy, and a platform…’ 

…...

Ecology: 

More on nuts with LaSexta here: ‘The profitability of pistachio crops is "good" but not for the impatient: "This is not a quick earner"’. 

…...

Various: 

From Xataca here: ‘These are not good times for the Catholic Church, which is grappling with a collapse in vocations and a clear loss of followers. However, other faiths are faring better. As the Latin American community has gained presence in the Madrid region, so has the Evangelical Church, increasingly present on its streets and with greater influence. So much so, in fact, that some estimate it is opening places of worship at an astonishing rate…’ My experience is that this comes from American missionaries to central and South America. 

Cadena Ser says that ‘80% of young people who have completed secondary school are unaware of Franco's repression. A study published in the 'Revista de Educación' highlights the tremendous gaps that exist in the current education system with respect to historical memory’. Público asks ‘Why don't we study the Civil War or Franco's regime in school?’ 

El País in English brings ‘The financial scandal that rocked Franco’s Spain and ended with a suicide in Lausanne. Historian Enrique Faes uncovers a case hidden in the archives for sixty years: a real-life detective tale involving tax evasion, secret codes and a Swiss bank employee who sought out wealthy clients in post-war Spain’.

From Infobae here: ‘Bullfighting receives record grants of €2.4 million, with attendance at bullfighting events at a record low: Madrid and Castilla y León lead the way in funding.

The Franz Weber Foundation emphasizes that the increase in grants for this bullfighting organization conflicts with the social reality regarding the number of attendees at bullfighting-related events’. My view is that bullfighting remains popular enough with the aficionados and it has the added boost of being identified with Spanish conservative dogma. 

…...

See Spain:

Idealista (in English) has ‘Five of the best medieval towns in Spain to visit. Travel back in time and explore the most enchanting medieval towns in Spain. These historic villages offer a perfect mix of charm, history, and architecture, ideal for an autumn or winter getaway. 

Fascinating Spain here, has ‘Spain’s largest old town: it occupies nearly 4 km² (and it’s one of Europe’s most extensive). This city’s historic quarter, teeming with an extraordinary cultural heritage, is Spain’s largest and one of the vastest (sic!) on the continent’. It’s talking about Seville. 

…...

Letters:

Cancelling my trip to the USA: Oh Mr Napier, what a wonderfully interesting life you’ve led. You write so much sense, and your articles are always so interesting.

Janice

 

I would say that the threat of deportation on a visit is more than a distant one. I personally know two people, ex-colleagues, who have been denied entry and deported, in the last few months when visiting the US for business meetings. Both had an ESTA in place, neither had any criminal history (they both work in cybersecurity), and both had fully documented visits - hotels, details of meetings etc. Why were they detained and deported? They'd both been critical of the great orange gibbon on social media. I also used to fly state-side a dozen or so times a year for business but, since I'm very public with my criticism of Trump, I'd not even bother trying whilst he's still on the 'throne'.

Emma

 

…...

Finally: 

La Frutera de Madrid. It all started when Ayuso muttered under her breath that Sánchez was a son-of-a-bitch, or ‘Hijo de Puta’. When challenged, she replied with some wit ‘I said -Me Gusta la Fruta’ (I like fruit). So, along comes this song on Meneame here. Funny!