Ione Belarra, general secretary of the communist party "Podemos," has urged the Government of Spain to expropriate the homes and shares that American investment funds own in the country in response to the "global trade war" that, according to her, has been driven by the President of the United States, Donald Trump.
This lunatic definition by Belarra includes Trump's proposal to impose a 20% tariff on all products coming from the European Union.
Belarra believes that the best way to respond to this situation is with "forcefulness and courage", and has requested the immediate activation of Article 128 of the Spanish Constitution, which allows public sector intervention in cases of general interest.
Article 128 states that "all the wealth of the country in its different forms and regardless of its ownership is subordinated to the general interest," which grants the State the possibility of intervening companies and reserving essential resources for public interest, especially in cases of monopolies.
According to Belarra, this legal framework would allow the expropriation of the assets and holdings that American investment funds have in Spain, particularly those homes and shares in key companies such as those in the banking, energy, and communications sectors.
Belarra has emphasized that the recent move by BlackRock, which acquired more than 20% of Naturgy in November 2024, is an example of what she considers a "very serious" situation and has insisted that the Government of Spain should act to prevent foreign companies, especially American ones, from continuing to participate in the country's strategic sectors.
