Spain Will Fill EU Vacuum Left by U.K., Italy, Sanchez Says

(Bloomberg) -- Acting Spanish Prime Minister Pedro Sanchez pledged the country will boost its influence in European Union institutions and counter what he portrayed as the fading clout of the U.K. and Italy in Brussels.

“With a United Kingdom that has decided to leave but doesn’t know how to leave and an Italy that’s preoccupied with its own dynamics, I think Spain has an enormous opportunity but also an enormous responsibility to drive the European project," Sanchez told a group of Spanish business leaders on Saturday.

Sanchez said Madrid would push for a position on the European Commission, seizing on his Socialist Party’s strong showing in EU elections.

He called on European leaders to prioritize the completion of the bloc’s banking union in the next five years. Domestically, Sanchez said that once he is able to form a government and begin his second term as prime minister, he will focus on boosting Spain’s productivity, which has floundered despite a strong economic recovery. He also pledged to take steps to chip away at the country’s substantial debt.

To contact the reporter on this story: Jeannette Neumann in Madrid at jneumann25@bloomberg.net

To contact the editors responsible for this story: Fergal O'Brien at fobrien@bloomberg.net, Crystal Chui, Andrew Davis

©2019 Bloomberg L.P.