De Guindos notes that the Spanish risk premium would have shot without the european agreement


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The vice-president of the European Central Bank, is Luis de Guindos , called this Thursday to the countries for which they are preparing their action plans and “establishing your priorities” to allocate the resources of the fund for the recovery of the European Union on the occasion of the crisis of the coronavirus. De Guindos has participated this Thursday in the last session of the dialogues “to Save tourism”, organized by the Hotusa group and which has also involved the president of the patronal Catalan Foment del Treball, Josep Sánchez Llibre.

These action plans, said De Guindos, must take account of both the principle of digitalization and the transition to a low carbon economy . This conditionality of the resources, has said the vice-president of the ECB, occurs “whenever there is a transfer of community resources”, but has stressed that “you do not have nothing to do with the famous ‘troikas’ of 10 or 12 years.” “Obviously it’s going to be surveillance, because it can’t be otherwise,” he argued.

all in all, Luis de Guindos pointed out that “most interested” in that resources are well spent “must be the countries that will be net recipients of this fund”.

on the other hand, has indicated that, in a country like Spain, in which the weight of tourism in the gross domestic product (GDP) is about 13%, the sector “will make a major effort to bring ideas to the Government of Spain that is reflected in the action plan and referring back to Brussels”. “Brussels will be conscious of the needs of the tourism industry and that the tourism sector is vital for an economy like the Spanish “, he noted in this regard.

The vice-president of the ECB and former minister of Economy has stated that had it not been for the “european umbrella” the Spanish risk premium “would have shot” and Spain would have had “enormous difficulties” for funding and to sustain the Welfare State.

In this agreement, said De Guindos, “there has been no winners or losers,” but “a winner, that is the european interest and the interest Spanish.”

“use well the money goes in the interest of all”, said the vice-president of the ECB, which has said that it is “the main element of tranquility to the european integration process to continue.”