Saturday, July 30, 2016

The “brexit” will cost up to 3,000 million to Spain in 2017, De Guindos – Yahoo Finance Spain

Madrid, July 29 (EFE) .- The Acting Minister of Economy, Luis de Guindos, explained today that the UK decision to leave the Union European (EU), known as “brexit” will have an estimated Spanish GDP 2017 “two or three tenths” impact, ie between 2,000 and 3,000 million.

“the ‘brexit’ has a direct impact on Spain, indirect way the rest of the Union, and we have been assessing the environment of two or three tenths in 2017 “, said De Guindos after approving the Council of Ministers a new macroeconomic framework.

the caretaker government has raised the forecast of GDP two tenths to 2.9% in 2016, while 2017 has reduced by one tenth to 2.3%.

Guindos has been asked by a statement in which the Eurogroup chairman Jeroen Dijsselbloem said he was “disappointed” by the decision of the European Commission (EC) to cancel the fine to Spain and Portugal.

regard, he noted that in his opinion the Eurogroup and Ecofin will adopt “without any objection” to the recommendation of the Commission, both on the sanction as around the deficit path.

also he stressed that the preparatory meeting for the meeting of finance ministers of the euro zone has already taken place “and that there has been no observation of what has been the recommendations of the EC”.

therefore, De Guindos assumes that the recommendation “will be adopted without any objection” because it also would require a reverse enhanced majority “that certainly did not occur at all within the Eurogroup and the Ecofin” to reject EC recommendation

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