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Over the course of a decade, Montoro reportedly received nearly a million euros in public salary while a private firm he founded profited handsomely—allegedly thanks to policy changes made during his time in office.
The revelations raised concerns about the conflict of interest in Spain’s political class and the fine line that separates public service from private gain.
Dual incomes: A decade of double incomes
Between 2008 and 2019, Montoro received €954,040 in salary from his roles in Congress and the Ministry of Finance. During part of that time, he also collected €234,323 from the Partido Popular (PP), the political party he served under.
It wasn’t his entire income. Montoro earned close to €8,000 from the FAES foundation—an influential think tank closely aligned with the PP—plus an additional €5,000 in parliamentary compensation. He also received around €20,000 in speaking and consulting fees from academic institutions and economic forums.
Equipo Económico: A shadow network?
While these earnings might be unremarkable on their own, it’s Montoro’s links to a consultancy firm, Equipo Económico, that have caught the attention of investigators. Montoro was a co-founder of the firm before becoming a minister in 2006. Although he cut ties with his former firm when he took up public office, an investigation by the judiciary suggests that he could have continued to be involved behind the scene.
According to reports, the firm, which specializes in economic consulting and lobbying secured lucrative contracts following several changes made by Montoro’s ministry. According to documents from the Mossos d’Esquadra (Catalonia’s regional Police), Montoro’s meeting with businessmen whose firms later benefited by these legislative changes were documented.
Millions of euros in profits were then distributed among just four partners—raising eyebrows and now judicial scrutiny.
Trust in the public is put to test
A damning assessment from Mossos investigators accuses Equipo Económico of acting against the public interest. Former officials and their associates are accused of using their political influence for personal gain, rather than upholding the public interest.
In political and legal circles, the case has raised questions about the relationship between government offices and private consultants. This case raises new and uncomfortable questions regarding the relationship between financial power and legislative authority in Spain.
A loan paid off—but how?
Most striking is Montoro’s timeline. Between 2005 and 2014, he successfully repaid a loan exceeding €500,000. That repayment, now under judicial review, raises key questions about whether his income—both declared and undeclared—stemmed in part from his influence in government.
The fallout and repercussions
As the case develops, it may deepen public suspicion of political leadership in Spain. Montoro, the former architect of Spain’s tax and austerity reforms, is now embroiled in a scandal which could change his legacy.
No matter if formal charges are filed, these revelations have already dealt another blow to public confidence in government’s ethical boundaries.
Corruption is a cost to democracy
The investigation into Cristóbal Montoro is more than a personal scandal—it underscores a wider problem in Spanish politics: the erosion of trust when public office becomes a stepping stone to private fortune. In the run-up to regional and national election in Spain, this case may increase calls for reforms, transparency, as well as stronger safeguards from conflicts of interests.
Source: Infobae
