The government is considering making direct injections to the Fund’s Plan … – The World

The government is considering making direct injections to the Fund's Plan … – The World

The Minister of Economy and Competitiveness, Luis de Guindos, explained Tuesday in Brussels that Spain is considering whether to direct the European Strategic Investment Fund (FEIE) contributions, vehicle built with Juncker Plan for channeling the European projects investment. It has also advance our country will have to provide 5,300 million euros to the One bank resolution mechanism when fully operational and capitalized, will have 55,000 million euros (MUR) . The figure is slightly lower than the 10% contribution calculated Moncloa.

The FEIE the Plan Juncker born with a “capital” of 21,000 million Europeans Budgets, mainly in the form of guarantees, which aims to mobilize up 315,000 million euros in total through private investment. But those 21,000 million could add all the extra money you want, either by companies or by the states. With an additional advantage: the Commission intends that any capital injection does not compute for the excessive deficit procedure

“We must analyze the options There are positive bias by the government .. because it is a very important initiative, but we have to define, we have to define the conditions for participation, the pros and cons. The Government is predisposed to participate. No figures yet. We have the general mimbres but little detail is not have and it is logical that still is not. What we do is establish general political principles that must be validated next week. The Commission wants the states involved. Today the Spanish Government would be inclined to participate, “said De Guindos.

Of course, with one condition: see what kind of ‘reward’ for Spain would in the governance of the Fund if it decides to disburse money. The minister has acknowledged that representation in the dome of the new mechanism “may be a natural derivative of participation”.

In fact, countries can participate in the Fund in two ways. Well with capital injections, either by co-financing specific projects. “They will discuss the two options. Both principal and co. We are favorable a priori but we have to give more details. It is important to know how will the governance and what the treatment of excessive deficit will be. We think it will be like contributions to European Stability Mechanism, “added De Guindos.