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"We started a new stage." The visit to
Spain by
the German Chancellor, Olaf Scholz, has served Pedro Sánchez to show understanding and a road map between the two Social Democratic leaders. The Spanish-German axis is renewed after the departure of Angela Merkel. Scholz and Sánchez share a political family, an affinity for the ecological transition or the digital transformation, but also important differences on capital issues such as fiscal rules or the energy market. In fact, the German leader has warned of the need to have a framework of stability in the face of the relaxation of the return of fiscal rules that countries like
Spain are
asking for
.
The Covid pandemic has forced the whole world to reset to try to overcome the socioeconomic crisis generated by the virus. In Europe, a turning point was the suspension of fiscal rules so that countries could spend to fight the virus. However, the debate is open and divided in the Eurogroup about their return and how they should return from 2023.
"We agree that the suspended fiscal rules are too complex and difficult to comply with in the context of the pandemic," Sánchez objected after having lunch with his German counterpart. These rules limit the public deficit and debt to 3% and 60% of
GDP
. Spain's position is to "avoid a premature withdrawal of the stimuli and of the monetary and fiscal policy that we have developed to respond to the pandemic", as Vice President Nadia Calviño expressed precisely this Monday from
Brussels
, before participating in the
Eurogroup
meeting .
The Spanish Government considers that it is necessary to "avoid an application without further ado of the fiscal rules that we had before the pandemic".
That is, open a debate, urge a review of these rules.
Spend the approved European funds and see later how the need to set thresholds and ceilings for countries' indebtedness is redirected, but when the recovery is already established.
"Europe's main priority is to agree on the medium-term sustainability of public finances, addressing the ecological transition and digital transformation, something that will require leveraging private investment but that needs the leadership of public investment," said Sánchez.
However, Germany looks favorably on the past.
He considers it necessary that there be some fiscal rules because, as Scholz explained to Sánchez, that containment has now made it possible to have European funds.
The warning is clear: the future needs containment so that, if necessary, it can once again have a piggy bank of European money.
"The stability framework has allowed us the framework to have the recovery funds, most of which have not yet been disbursed and that allows us to respond to the tasks of the future. For Germany it is clear that we want to continue building on the experiences of the past", has been the warning of the German chancellor.
The future for Germany goes through recovering the fiscal rules.
"In the coming years, Europe will walk hand in hand and this is done on the basis of the stability pact that has served as a framework for operations as dramatic as the pandemic and that will help us do the right thing."
Yes, because
Germany
and Spain share interests and measures, even the government program of both countries shares initiatives, but there are substantive differences that the lunch between Sánchez and Scholz has only confirmed.
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