-
-
Cristóbal Montoro asserts that more Europe, more structural reforms and more budgetary stability are the path to exit the crisis
In May the number of foreign contributors to the Social Security system grew by 31,264 workers, or 1.83%. It is the third month in a row there has been a rise after eight months of declines. May is usually a month when the number of foreign contributors grows due to agricultural work and the tourist season.The Minister for the Treasury and Public Administration Services, Cristóbal Montoro, stated on Monday in the Upper House, that faced with a critical and crucial period for the Spanish and European economy, “more Europe, more Euro, more structural reforms and more budgetary stability are the path to exit the crisis”, together with “adequate financing as a result of European integration, through the ECB, which must respond with firmness and consistency to the pressures of the markets which are still trying to create barriers to the development of the common project that is the Euro”.
He asserted that the elections in France and Greece have shown “a clear commitment today to Europe and to the Euro and we should be grateful that the framework of reference of this budgetary debate is like this”. Cristobál Montoro pointed out that today is also a day in which market pressure remains focused on Europe and pressure has not been relaxed on Spain; “which means that doubts still persist surrounding the present and the future of the Euro and about the Spanish economy, and hence we need to respond with clear, resounding and firm policies to answer these doubts”.
The Minister for the Treasury was forthright in asserting that the general message should be none other than dispelling any doubts surrounding the future of the Euro, supporting budgetary stability, reforms and the development of European institutions such as the banking union, fiscal union and political union in order to further develop the single currency. “We must move towards greater European integration”, he stated.
“The Spanish Government’s position is more Europe, more Euro, more reforms and a greater commitment to budgetary and economic stability”, claimed the minister in the Upper House and this debate “should take place with the conviction that Europe is on our side”.
The minister stated that the last few months have seen far-reaching reforms such as the labour reform, which have resulted in the convergence of labour relations with neighbouring countries, or the reform of the Spanish banking sector, with a credit line of up to 100 billion euros to be drawn down to finance independent contractors, SMEs and to enhance the flow of credit to families.
This raft of reforms will contribute decisively to paving the way to economic recovery and job creation. Cristóbal Montoro similarly highlighted the implementation of the supplier payment plan which has enabled outstanding invoices to be paid to SMEs, independent contractors and other suppliers that needed funding to continue trading.
Not falling further into recession
The General State Budget for 2012 is also based on austerity, reducing the public deficit and on a spirit and enthusiasm aimed at recovering budgetary stability. This is a conscious and committed policy in order not to fall deeper into recession.
“We need to reduce the public deficit as soon as possible; otherwise it will not be possible to obtain financing. We will benefit from reducing the deficit and public expenditure without that prejudicing the economic situation”, stated Cristobál Montoro.
For the minister, the Budget, despite being debated in June, has not arrived late since a large part of the austerity measures and increase in revenue have been applied since the start of the year, which has meant that all public authorities have adapted their individual budgets to this situation.
And hence the minister asked for parliamentary groups to withdraw their veto of the Budget, “so that we can respond as one in a time of crisis” instead of facing new difficulties. He indicated that it is paradoxical and even somewhat startling that certain groups are vetoing the Budget when in those regions in which they hold political sway similar adjustments are being made.
Source: lamoncloa.gob.es
- Company tax, Lawyers, Lawyers in Marbella, Tax Advice Marbella, Tax law, Tax Planning,