The European Commission gives the green light to a disbursement of 10 billion Recovery Funds for Spain

The

this Friday gave the provisional green light to the first formal disbursement of recovery funds for Spain. They are

euros in exchange for a battery of

and the fulfillment of milestones agreed with Brussels in recent months in fields such as education, employment, digital skills or the competitiveness of SMEs. "Spain has made sufficient progress in the implementation of its national

. Therefore, it will be the first EU country to receive a payment, worth

once the other Member States authorize it," he said. President

announced this late

.

On

already received

euros under the same umbrella, but it is what was known as "pre-financing" and did not require concrete measures. The "pre-financing",

of the total that corresponds to our country (about

euros in transfers, which do not count for deficits or debt and do not have to be repaid), was granted automatically once the

, that Moncloa sent half a year ago, exceeded the cut. Its function is to compensate for the actions that governments have had to implement against the pandemic since March 2020.

However, the Commission's decision does not imply the payment of the money. It was the first procedure, the most important, but it is not the last. The established norms establish that now it will be the Member States that will make a pronouncement, within a period of one month, before the transfer takes place. They must analyze it, study it, and ratify the decision or present objections.

The ball is in the court of the so-called Economic and Financial Committee, which must issue an opinion in a maximum of four weeks. The Commission then, with this evaluation, is in charge of the final approval through what is known as comitology and of making the transfer. Spanish sources and European sources explain to this newspaper that there should be no problems because this battery of measures has been on track for a long time and there are no sensitive issues. The problems will come with the next disbursement.

Spain is the first country to formally request this disbursement, and the one that has been working most closely with Brussels to polish a new system full of administrative and even legal doubts. Moncloa sent the official request on November 11 and although European technicians have up to two months to study it in detail, the fact that most of the requirements have been approved for some time has speeded up this step.

"Today marks an important step forward in Europe's recovery with the implementation of the first series of reforms and investments by a Member State. I congratulate Spain for having successfully achieved the first 52 milestones set in its Plan of Recovery and Resilience These include important reforms to strengthen the resilience of the Spanish economy and prepare it for the future.

Pending the review by the Member States, Spain will now receive

euros, which should help greatly to roll out the many green and digital investments envisaged in the Spanish plan. Thanks to close cooperation with the Spanish authorities and their reform efforts in recent months, the Commission has been able to complete its assessment in record time. We are off to a positive start. The Recovery Fund is moving forward! ", Celebrated Community Vice President

.

The process is slower than expected. Technically it is still possible that the money will arrive before the end of the course, which is what was planned in the initial calendar, but it is most likely that it will occur at the beginning of the next course. At the accounting level, they explain in the

, there is no difference or impact. In the Commission they confirm that the procedures have cost more than desired, but they applaud the Spanish technicians because by serving as guinea pigs they will pave the way for those who come behind.

"Today's positive preliminary assessment is an acknowledgment that Spain has adopted a very wide range of reforms. Measures to improve education and training for all Spaniards, support the most vulnerable households, boost digital skills and competitiveness of SMEs and chart a course for 100% renewable electricity. In these uncertain times, today we send a signal of confidence in the implementation of Spain's ambitious plan to achieve stronger, more inclusive and sustainable growth ", celebrated

, European Commissioner for Economic Affairs.

Today's announcement comes as no surprise. Community politicians and technicians have been explaining since June that the Spanish Recovery Plan was solid (they have designed it hand in hand at all times) and that although they expected and expect stones along the way, it will not be at this stage. By July, almost all the milestones (52) necessary for this disbursement were already achieved, such as the

(which enshrines climate neutrality by 2050), the reform of support for minimum income or measures to support the digitization of SMEs and boost digital skills.

The pressure will come with the next package, which in theory should be ready before the end of the year but is late, everywhere. There are even countries that have not yet submitted their recovery plan. There is a lot at stake in this step, which is expected to be disbursed in the spring, starting with complicated labor market measures.

Collective bargaining is blocked in Spain.

There is no agreement between the government, unions and employers, and although it is not technically essential (as it is not in the matter of pensions, where Moncloa has gone ahead without the 'yes' of the employers), it is more than recommended.

Brussels has given a reasonable margin of time for negotiation, but the regulation is clear and if all the milestones and reforms are not approved, there can be no full disbursement.

There could be a partial one, and it would not be strange, but it would be an unpleasant stigma for the Government that presumes from the first day of being the head in this process.

According to the criteria of The Trust Project

Know more

• Spain

• Europe

• European Comission

• ERTE

• economy

Moody's reportThe "inefficiency" of the public sector will limit the impact of European funds in Spain

Interview Luis Garicano: "If Spain spends badly or fails to execute European funds, it could lose another decade"

Labor Ultraactivity, petrification, sectoral agreements ... The dictionary to follow the negotiation of the labor reform

See links of interest

• Last News

• 2022 business calendar

• Home THE WORLD today

• Holidays 2021

• Podcast Economia

• How to do

• Zalgiris Kaunas - Bitci Baskonia

• Real Madrid - Maccabi Fox Tel Aviv

• Anadolu Efes Istanbul - Barça