26 May, 2018 @ 12:13
1 min read

Podemos leader faces confidence vote after ‘luxury’ home purchase

podemos peril

THE members of Spain’s anti-austerity party Podemos are to vote on whether it’s leader should step down after buying a €600,000 ‘luxury’ home.

The party’s half a million members will decide whether it was wrong for the staunch left-wing politician Pablo Iglesias to buy the property – which has a swimming pool and a guest house – in Galapagar, northwest of Madrid.

He explained that he and his girlfriend, fellow Podemos polítician Irene Montero, need the extra space as they are about to have twins.

Iglesias had previously criticised the former Economy Minister Luis de Guindos for buying a similarly priced apartment in 2012.

“Would you hand the economic policy of the country to someone who spends 600,000 euros on a luxury apartment?,” Iglesias then tweeted.

Several political commentators and real estate experts questioned the timing of the purchase of the house in Galapagar.

“With the public data we have, it looks like the couple have taken on more risk than is advisable,” said Juan Villen, the head of mortgage services at Idealista.

“It is not setting a good example to get into debt in this way, especially at a time when we’re asking for prudence from the financial industry to avoid the excesses of the past.”

Iglesias and his partner took out a 90% mortgage of €540,000 on the property, which they plan to pay off over 30 years.

Giles in the s
Previous Story

Giles Brown recalls his 1980s run-in with the Costa del Crime

don quixote
Next Story

Terry Gilliam’s Don Quixote film finally released after 29 YEARS of production misfortune

Latest from Business & Finance

Go toTop

More From The Olive Press