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WSJ Opinion: Potomac Watch

The Center-Right Makes Gains in Europe

WSJ Opinion: Potomac Watch

The Wall Street Journal

News, Society & Culture

4.22.8K Ratings

🗓️ 24 July 2023

⏱️ 19 minutes

🧾️ Download transcript

Summary

The center-right Popular Party makes gains in Spanish elections against the ruling Socialists, which may produce a hung parliament. What does the result tell us about the political trend in Europe? Plus, the Federal Reserve seems set to end its interest-rate pause and raise rates again. Good idea? Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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0:10.5

Learn more at ecolab.com slash EWC.

0:18.1

From the opinion pages of the Wall Street Journal, this is Potomac Watch.

0:23.8

Is the political right-making comeback in Europe or not?

0:28.1

Spain goes to the polls and the center-right popular party gains seats, but not enough to form

0:33.4

a new government. We'll tell you what happened and why it matters.

0:36.9

Also a big week coming for economic news in the United States with the Federal Open

0:41.6

Market Committee meeting this week to decide whether to raise interest rates again or continue

0:46.1

the pause that it started in June. Also, second quarter GDP report comes out Thursday.

0:53.4

I will tell us something about the pace of economic growth and whether the economy is on a path to

0:59.3

that fabled soft landing of law or is more trouble ahead. Welcome. I'm Paul Ojigo with the

1:06.1

Wall Street Journal editorial page and here in Potomac Watch, I'm joined by Joseph Sternberg.

1:11.6

Joe is based in London for us. Welcome, Joe. How are you? Hey, Paul. I am well. How are you?

1:17.2

That's a bad. You took a reporting trip to Spain not too long ago as kind of size up where the

1:23.1

election was. So just want to relate your credentials here to our listeners about your credibility

1:29.0

in Spain. And you wrote about it and you were expecting, I think it's fair to say, that the popular

1:35.3

party, the center-right party, would do pretty well in this snap election that was called by the

1:40.6

ruling socialists after some regional voting defeats. The PP did in fact gains 38% of seats in

1:48.6

the election on Sunday. And that was the leading party of the big four, but socialists got 34%.

1:55.7

But the PP was denied an outright majority in terms of working with a coalition. They had hope

2:00.8

to be able to form a center-right majority. And that fell short. What happened? Well, I think a

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