Luis Garicano is a MEP of Citizens and a member of the Committee on Economic Affairs. He maintains, in a telephone conversation with this newspaper, that if the leader of the PSOE manages to govern after the elections, he will return to Spain to the excessive deficit procedure, because he will again exceed 3% of GDP with the slowdown and its economic policy.

What do you think of the letter that the European Commission has sent to Minister Nadia Calviño? The letter is a hard corrective and how will they be concerned with the Spanish fiscal situation they send knowing that we are close to the elections. The European Commission says nothing that the objective to meet this year is the softened deficit of 2% of which the Government speaks. The official objective is still 1.3% and perhaps the State will end the year by doubling it, so the fiscal situation will be very difficult. We have verified that the 500 days of Sánchez's government have been 500 days of inaction, without reforms and without a budget. The only thing he has done is electoral spending "It will be necessary for the next Government to leave 10-N to make a strong adjustment ... Yes, although Pedro Sánchez is not talking about it in the campaign. An important structural adjustment of more than 6,000 million that, if Pedro Sánchez wins, leads to a tax increase that the Spanish economy cannot afford. I don't see him cutting expenses. If nothing is done, the deficit goes away. Is there a risk that Spain will return to control Brussels special due to excessive deficit? Fully seen the precedents of expenses when there is a crisis in Spain, if Sanchez manages to govern and continues the slowdown, Spain will return to a 3% deficit, which would be an embarrassment for the country. The deficit can end this year at around 2.5% and a little crisis would be enough to go back to over 3% next year. With Sánchez we return to the EU corrective arm. The ECB calls for expansion of spending against decelerating ation ... Yes, but for countries that can afford it because they have done their homework and already balanced their accounts. Spain can't. Both Mario Draghi and Christine Lagarde have made it clear in the European Parliament that only Eurozone countries that have room for this should do expansive policy. Those who do not have it, such as Spain, must undertake an agenda of structural reforms. The inability of the Government so far to undertake these reforms will lead us to a very complicated economic situation "

According to the criteria of The Trust Project

Know more

  • Spain
  • Pedro Sanchez
  • European Comission
  • Citizens
  • Nadia Calviño
  • European Union
  • Public deficit

Macroeconomics The new government must make an adjustment of 6.7 billion in 2020 to comply with the EU

Budgetary Plan The Government disputes the rapa dust of Brussels: "There is no expenditure triggered" and "it is not a scolding"

CumbreEspaña says no to the budget; Sanchez rejects the amount and distribution and marks as "red line" agricultural aid