Analysts at Deutsche Bank note that in Spain, Prime Minister Sánchez's coalition government received the narrow backing of the Spanish parliament yesterday, with a vote of 167-165 in favour, thanks to 18 abstentions.

• "The country has experienced sustained political gridlock over the last year, having gone to the polls twice in 2019 after no government could be formed following the first election in April. The subsequent election in November then saw the formation of a new coalition between Sanchez's Socialist party and the left-wing Podemos, but they still only have a minority of seats in Parliament, having relied on the abstention of Catalan separatists in order to win yesterday's vote."