02.08 - Spain Today News 19 July 2025

Montoro Investigation: An investigation is ongoing into former Minister of Finance, Cristóbal Montoro, and his firm Equipo Económico, which is accused of a "pay-to-play" scheme to influence legislation for clients. An email from December 2013, discussing "paying this economic team that has direct contact with the Minister of Finance, Cristóbal Montoro" to influence the Congress of Deputies for tax benefits, is the origin of the probe. The judge suggests this practice "could have been habitual and known". Equipo Económico allegedly had a "great capacity" to connect companies with the Ministry of Finance and influence the drafting of laws, even leading to a patronal group (AFGIM) drafting reform proposals that were adopted, specifically for reducing the electricity tax and the Economic Activities Tax. Spain Wildfires: Spain is currently battling two significant wildfires declared at level two severity (IGR 2) as of July 18, 2025Spain's Mortgage Surge: The signing of mortgages on homes in Spain surged by 54.4% in May 2025 compared to the previous year, marking the eleventh consecutive month of annual increases and the best May since 2022. This significant increase is primarily driven by falling interest rates, which have remained below 3% for four consecutive months