Madrid’s political stage is once again at the heart of a scandal. The Spanish Senate, where the Partido Popular (PP) holds an absolute majority, has voted to establish yet another commission to investigate the activities of the State Industrial Holdings Company (Sociedad Estatal de Participaciones Industriales, SEPI). This marks the fifth such initiative in recent years and is moving forward even though the case files remain classified as ‘secret.’
Two key government officials are in the spotlight: First Deputy Prime Minister María Jesús Montero and Third Deputy Prime Minister Sara Aagesen. Both have been summoned to the Senate to explain the ongoing investigation involving SEPI’s former leadership. Clearly frustrated, Montero pointed out that she is unable to disclose details due to a court order and responded with sharp criticism, reminding opponents of the lengthy list of corruption cases within the Partido Popular.
A battle of political wills
The Senate vote unfolded amid heated debate. A total of 146 right-wing senators, including UPN and Vox, supported the creation of the commission, while 86 representatives from PSOE and their allies were opposed. The session was marked by an atmosphere of distrust and mutual accusations. The opposition did not hide its intentions: their goal is to ramp up pressure on the government and on Prime Minister Pedro Sánchez himself, particularly with a series of elections approaching.
Last December, the Guardia Civil carried out a large-scale operation, detaining former SEPI president Vicente Fernández and socialist activist Leire Díez. They are accused of fraud, document forgery, embezzlement, influence peddling, and abuse of power. These events have triggered a new wave of political attacks.
Arguments from both sides
Speaking before the Senate, Montero tried to steer the conversation in a constructive direction. She emphasized that under her leadership, SEPI achieved record results in business volume, exports, profits, and investment. She focused especially on anti-crisis measures: out of 28 companies rescued during the pandemic, 10 have already fully repaid the loans granted by the state.
However, the opposition was not prepared to listen to explanations. Members of PP and their allies insisted that SEPI had become a tool for handing out political favors and ‘paying for services’ to loyal groups. Loud accusations were made while the government’s arguments were ignored. In response, the socialists and their partners accused the opposition of destructive tactics and attempts to destabilize public institutions.
Personal attacks
The debate turned personal. PP spokesperson Alicia García directly accused President Sánchez and the entire PSOE party of corruption, calling SEPI a ‘cash machine’ for political appointees. Montero fired back, reminding the chamber of multiple corruption scandals involving PP members and urging reflection on the moral responsibility when appointing state officials.
Sara Aagesen, the third vice-president, also came under fire. She was questioned about the recent power outage that occurred in April and accused of inefficiency. Aagesen responded by declaring zero tolerance for corruption and promised full cooperation with the commission.
The struggle continues
PP has no intention of backing down: the party has already announced that María Jesús Montero will be summoned again for hearings as part of the commission’s work. The opposition is demanding answers to questions that went unresolved during the plenary session. Meanwhile, government supporters view the developments as a political spectacle aimed at undermining confidence in the executive ahead of an election-packed year.
The situation surrounding SEPI has become a litmus test for all of Spanish politics. Issues of transparency, accountability, and the fight against corruption have once again come to the forefront. While some demand tough measures and new investigations, others see this as merely an attempt to distract from their own troubles. In any case, tensions in the Senate remain high, and the political battle is only intensifying.
