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Minister Escolano Advocates for an anticrisis budget to complete the euro reform

The Minister claims that trade protectionism is a political mistake

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Minister Escolano Advocates for an anticrisis budget to complete the euro reform

Chancellor Angela Merkel has assured this noon in Berlin that European partners must move quickly to set in motion an anticrisis budget for eurozone, in minimalist version (which allows to maintain public investment when Skinny cows). The new Spanish minister of Economy, Román Escolano, was released hours later in Brussels, at meeting of Eurogroup, with a similar message. Spain is committed to a more ambitious anticrisis budget to create a common unemployment reinsurance or assist countries with problems. Escolano has not gone so far, but has assured that this new fiscal capacity "is essential to complete architecture of Economic and Monetary Union (EMU)."

"It is important that Spain plays a leading role in this discussion in an integrative sense," said Luis de Guindos's successor, who a few months ago presented in Brussels master lines of ideas of Spain to reform eurozone (including Eurobonds that Berlin does not want to see in painting. Europe is awaiting meeting between Merkel and French President Emmanuel Macron, although French and German media are dismissing that Berlin and Paris present a joint document with ir vision of new eurozone. The Nerlands is leading a coalition of eight countries (with Belgium, Luxembourg, Ireland, Baltics and Nordics) that opposes a qualitative leap. "The political situation in Europe is not simple, while waiting for new German government, but Spain maintains a European message," said Escolano, who has chosen a low profile in his first dabbling in Eurogroup.

The euro's finance ministers will debate today euro's reforms and situation in Greece, increasingly close to leaving third bailout without a precautionary line. Escolano will have to deal with objectives of deficit and lack of budget, and beyond Spanish issues with steps forward that are expected in banking union and reforms proposed by Macron and Juncker Commission. "I arrive at a train in progress and I hope to provide a very European vision," minister insisted, who has agreed a bilateral meeting with President of Eurogroup, Portuguese Mário Centeno.

The Spanish government's economy holder has charged against protectionist measures from United States. "Protectionism is always a political mistake; It would be a historical mistake if two economic and commercial areas as important as US and EU were to enter a trade escalation, "he said before press, to later claim" unity "in European reaction.


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