Brussels, 9 dic.- The Spanish Economy Minister Luis de Guindos, today showed the “readiness” of the country to provide capital to European fund that Brussels hopes to mobilize up to 315,000 million for investments, but first asked for more detailed conditions.
“In principle, the Spanish Government is predisposed to participate,” although “We have to define in more detail the conditions for participation, pros and cons,” de Guindos said in a press conference.
“There are no figures yet,” he said on the sidelines of the meeting Ministers of Economy and Finance of the European Union (EU), the Ecofin.
European Committee led by Jean-Claude Juncker proposed the creation of a “European Fund for Strategic Investments”, managed by the European Investment Bank (EIB), which will have 21,000 million euros as leverage to achieve total 315,000 million investment.
The Commission hopes that member countries make capital contributions to the fund, regardless of the money used on finance investments in specific projects, two options that De Guindos said that are not “exclusive” to the Spanish Government.
However, the minister explained that for the moment, are known only “general withs” known as the “Plan Juncker” and that the government wants more details on issues such as the role contributing countries will the bottom in the governance of it and making decisions on the funding of projects.
It also seeks to clarify how these contributions will be addressed when evaluating public accounts of the countries within standards of European fiscal discipline if counted as deficit or not, for example.
“I think that treatment is thinking the European Commission right now is similar to our contributions to the European Stability Mechanism,” the permanent rescue fund for the eurozone, said the minister.
De Guindos said that in any case the Spanish Government not required to provide all countries to participate, nor a quota system be determined in so investments receiving country projects unrelated to their contributions to the fund.
Moreover, the minister recalled that Spain has submitted a list of projects require financing amounting to 53,000 million euros, unlike other countries, has not been published in detail.
De Guindos argued that the decision not to publish the projects presented by Spain to Brussels is because “prudence”, as he felt that largely these requests submitted by countries not match that ultimately will be chosen to receive funds.
“The perception is that yes there has been a flurry of projects that do not meet “the requirements for funding, said De Guindos said, noting that Spain meanwhile presented” projects that go beyond “not” a sum of Plans E “, referring to the plan 8,000 million driven by the previous Socialist government.
De Guindos denied that this decision relates to the proximity of the municipal and general elections in May in Spain and noted that “there is nothing like generating expectations that.
not met “It’s much better to be cautious until eventually the projects to be financed is very widespread and what we will see.”
(EFE)
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