Guindos boasts the effects of the Government’s reform plan – The Newspaper

Guindos boasts the effects of the Government's reform plan – The Newspaper

Sunday, September 7, 2014

Guindos, in the press conference last Friday after the council of ministers.

The Minister of Economy, Luis De Guindos , said that Spain is growing differentially relative to the euro area for having launched a plan reforms . Turn is convinced that the trend will continue in coming quarters, despite the general slowdown in the major economies of the euro zone that led to the European Central Bank (ECB) last Thursday to lower the cost of borrowing to 0.05% .

“The differential growth of Spain in relation to the euro area reflects the fact that Spain has launched an economic reform plan that begins to recognize”, he assured. In these terms it is expressed at a meeting held with the press during the second session of Ambrosetti Forum , a meeting point between economic and political leaders from around the world in Cernobbio (northern Italy) to 7 September.

Competitiveness and productivity

De Guindos said that “the economic reforms increase the

productivity and competitiveness “and both” make the markets work better for capital, labor, goods and services “. Therefore, he added: “The tools being launched by the ECB (…) in Spain are having more effect than in other countries.” The minister also insisted that “differential element” of Spain with respect to the other member countries is that “domestic demand, which is consumption and investment, is recovering.”

The economy minister has ensured that the country “is growing” that other countries in Europe and forecast that this differential growth will remain “in the coming quarters.” He also explained that the measures announced by the ECB to buy debt and lower interest rates to nearly 0% will have a positive effect on the entire European economy and as in Spain.

Asked his possible candidacy to head the Eurogroup , De Guindos merely noted that it is “at the disposal” of the prime minister, Mariano Rajoy.

“Spain does not enter into controversy with absolutely anyone in such an important and so fundamental to the future of Europe as the Eurogroup institution, “Guindos said.