The economic vice president,

Nadia Calviño

, is in favor of leaving part of the aid from the European Union, that of loans, for the next government, if the current one exhausts the legislature and only take the subsidies section.

In statements to Radio Nacional, Calviño has stated that

"the Government does not rule out loans at all, but we have a plan for six years



He explained that the expected period to request transfers is until 2023, while for loans there is a period scheduled until 2026. The current Executive of Pedro Sánchez concludes his term in 2023 and has drawn up "a plan in two phases" that coincides with that political calendar.

"Logically the priority is to carry out the investments that can be financed with these transfers," Calviño stressed.

As published today by the newspaper

El País

, "Spain renounces to claim now 70,000 million in European credits".

Calviño has left the door open to claim them before 2024 "if necessary", but has stressed that the other 70,000 million in subsidies "is a very important amount".

The obvious difference is that the non-refundable transfers do not increase the already high debt of the State, while the credits must be returned and subject the Executive to more conditionality coupled with that which will occur to the transfers.

The Government's bet implies confidence that the State will be able to continue placing debt in the markets during this term without this section of the EU rescue and that the European Central Bank will maintain its extra support to keep the risk premium low.

On the other hand, Calviño has not closed the door, but neither has he confirmed the salary increase for civil servants in 2021 and has explained why he does not entrust the management of the new European funds to an independent agency.


have thought a lot about how to manage these funds and it was going to take us so long to create an agency that was not efficient

. We have to rely on those that already exist."

For Calviño, the challenge of absorbing these funds is "formidable" and "will require a change in the rhythm of the Administration and public-private collaboration."

He has insisted on linking the approval of the Budgets to be able to channel the first 27,000 million planned for 2021. "Without budgets they will not be able to be carried out," he said.

The European Commission has rejected that without budgets Spain will run out of funds.

According to the criteria of The Trust Project

Know more

  • Spain

  • European Comission

  • Nadia calviño

  • European Union

  • minimum salary

Recovery Fund The ECB estimates that Spain will actually receive 33% less from the EU in the lost fund than was announced by Sánchez

Politics The Government defended in April before the EU the opposite of what it is promoting now to renew the CGPJ

Politics El pique Calviño-Sánchez: from "the economy does not have a button" to "it's okay"

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