Pedro Sánchez heads a minority PSOE government in Spain that depends on support from regional and left-wing partners to remain in office until scheduled elections in 2027. Recent corruption investigations, including charges filed against his wife in April 2026, have fueled opposition calls for his resignation and raised questions about coalition stability. Sánchez has countered these pressures through a high-profile international stance opposing military action against Iran and criticizing U.S. policy, which polls show resonates with Spanish voters and helps maintain parliamentary backing. Economic growth above the European average has further bolstered his position, while no successful no-confidence motion has advanced in recent months. Traders are weighing the durability of these factors against the risk of coalition defections or new scandals ahead of any early vote.