Prime Minister Pedro Sánchez has repeatedly signaled his intent to serve out the full term through the scheduled general election no later than August 2027, citing the need for continued progressive governance and explicitly ruling out snap elections as recently as late April 2026. His minority government maintains legislative stability through support from regional parties including Junts and ERC, with no successful no-confidence motions or budget failures to date. Recent polling shows the PSOE holding a competitive position against the PP-Vox alliance, reducing immediate incentives for an early dissolution of the Cortes Generales. Opposition calls from PP leader Alberto Núñez Feijóo and figures like José María Aznar have not translated into procedural triggers, while ongoing coalition negotiations and external audits amid prior scandals continue to shape the political calendar. Trader consensus reflects these factors through a strong implied probability against a 2026 snap election.