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Spain's new PM appoints EU technocrat as economy minister

New Spanish Prime Minister Pedro Sánchez named technocrat Nadia Calviño as economy minister, Bloomberg News reported.

Calviño has been serving as director-general for budget at the European Commission since May 2014. She previously held key positions in oversight of internal market and competition at the commission.

Sánchez is forming a new government after the country's parliament approved a motion of no confidence against former Prime Minister Mariano Rajoy. María Jesús Montero was appointed budget minister, while Josep Borrell will become foreign minister.