Yesterday Mariano Rajoy introduced an experienced government team that will continue to support the status quo. Three members have been ministers in the past, and one was a secretary of state. That said, the vice president of the economy did not stay on and Rajoy said that he himself would lead Economic and Financial Affairs because he wants to have the final say about these matters.
Similar to Zapatero, he will set the standard for the political economy, but with a key difference: his ministers are well-versed in political issues and have broad technical expertise. Further, Rajoy is maintaining a balance between his two strongest men who operate in this terrain. On the one hand, Minister of Finance and AAPP, Cristóbal Montoro, is receiving the strongest backing to lead administrative cuts because he has a clear understanding about governmental accounts after having spent time in the department.
On the other hand, Minister of the Economy and Competition, Luis de Guindos, is meeting standards well enough to satisfy the markets by leading with a banking restructuring and defending Spain's reforms in front of the EU. The Minister of Public Works, Ana Pastor, comes with a good history of management and Rajoy's confidence in her, something irreplaceable for running a ministry mired in cutbacks. Fátima Báñez from Employment is already accustomed to negotiating with social agents.
The fact that Arias-Cañete is going to Agriculture highlights the renewed importance of this crew. The only unknown is the Minister of Industry, Soria. Certainly this is a reliable cabinet with a liberal style and clear instincts for what needs to be done in the coming months. And Rajoy is betting on that.
