In the wake of his wife’s corruption scandal, the Spanish Prime Minister announces that he will remain in office

“I have decided to stay,” he declared in a much-anticipated public speech after five days of silence.

The silence began after the court announced on Wednesday that it was investigating the alleged corruption of the prime minister’s wife, Begona Gomez.

After a Madrid court opened a preliminary investigation into the prime minister’s wife last week, Sanchez said he was considering resigning.

A statement released by the court said the investigation began on April 16 and that it is subject to a secrecy order.

No further details were provided.

The court’s statement came hours after the online news website El Confidencial published an article alleging that Gomez was under investigation for ties to several private companies that ultimately received government funding and contracts.

“I have to stop and think if I should continue to lead the government or if I should give up this honor,” the prime minister said on the X social network.

On Saturday, thousands of the Prime Minister’s supporters gathered outside the headquarters of Spain’s Socialist Party in Madrid and chanted “Pedro, stay!”.

According to Mr Sanchez, the actions against his wife are part of a “campaign of persecution” which he says is being carried out by the right-wing and far-right-influenced media and supported by the conservative opposition.

Spanish prosecutors on Thursday asked to drop the investigation.

However, since last week Mr. Sanchez has suspended all his public duties and has not made any further comments on the matter publicly.

The prime minister was due to launch his Socialist Party campaign on Thursday last week ahead of regional elections in Catalonia on May 12, in which the Socialists hope to oust pro-secessionists from power.

According to analysts, if Mr. Sanchez resigns on Monday, early elections could be held in Spain in July.

Socialists can also demand that the parliament appoint a new person to replace Mr. Sanchez. His deputy and Budget Minister Maria Jesus Montero is among the likely contenders.

If Sanchez decides to stay on as prime minister, he could initiate a confidence vote to show that the majority of lawmakers still support him and his minority government.