Pedro Sánchez's minority Socialist (PSOE) government continues to rule out snap elections (elecciones anticipadas), with the prime minister stating in late April 2026 that Spain requires "eight more years of progressive governance" ahead of the scheduled 2027 general election for the Cortes Generales. Trader sentiment reflects ongoing speculation fueled by opposition pressure from PP leader Alberto Núñez Feijóo, who has decried record corruption and predicted political change this year, alongside Vox demands for a no-confidence motion (moción de censura)—which PP and Vox could pass with their combined parliamentary majority but have not pursued nationally despite recent regional coalitions. No major breakdowns in Sánchez's alliances with Sumar or Catalan parties like Junts have occurred in the past 30 days, though budget negotiations and scandal probes remain key risks ahead.