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Current EU major challenges-Brexit and Italy budget- move but still remain stranded

Spanish economy 7th October 2020

The Spanish Budget For 2021: Priority, Indispensable, Inevitable

Although Spain’s budgetary credibility in Europe, built up over the past decades, is in tatters- none of the deficit or debt commitments of recent years have been met- the country needs a budget which can be presented in Brussels, in order to obtain the green light for European financial flows. These are essential. Therefore, Pedro Sánchez’ s government aspires to obtain a minimum political agreement for the approval of the 2021 Budget, without which it could not survive.

spain deconfinement

Spanish economy 22nd July 2020

European Aid Accounts For 11.35% Of Spanish GDP In 2019

Spain and Italy have been two of the leading countries in the European Recovery Fund race. Our country will receive 140 billion euros, of which 72.7 billion will be given in direct aid and the rest in loans. This is a figure equivalent to 11.3% of Spanish GDP in 2019. It is a balm for Spain’s public accounts that will be able to sustain the recovery with greater guarantees. The European agreement for the reconstruction fund will be decisive for presenting the 2021 General State Budget as soon as possible. It should be remembered that the current government continues to manage public accounts under the previous government’s budget. This is technically possible, but lacks political sense.

Pedro Sánchez falls short of majority but will likely prevail tuesday

Spanish Politics 3rd March 2020

Madrid Closer to Striking a Budget Deal

J.P. Marín Arrese | Budgets stand as the paramount evidence for any government that it commands enough legislative backing. Especially when the governments in question cling to a fragile minority in order to stay in power. The Spanish Cabinet ranks high in this category, its survival is balancing on the thin rope the pro-independence ERC party is ready to offer. The price of this offer is engaging an open-ended dialogue on self-rule for Catalonia, plus an amnesty for the sentenced leaders of the derailed coup attempt. Both sides acknowledge that negotiations will lead nowhere. None the less, this offers political ammunition to ERC for quelling resistance at home in providing a life-jacket to PM Sánchez.

Spain Catalonia

Spanish economy 12th February 2019

The Fear Of An Accident Is Beginning To Dominate Spanish Society

Joan Tapia (Barcelona) | BBVA says that Spain could grow 2.4% this year (it grew 2.5% in 2018) and 2% in 2020. This would create 800,000 jobs over the two years and unemployment would fall to 12.6% (compared to 15.3% in 2018). Yet, BBVA also warns that the probability of an accident has increased. Spain’s public debt is 12 points above the eurozone average, around 100% of GDP. Moreover, the Catalan situation is explosive as it represents 16% of the population and 19% of GDP.

Current EU major challenges-Brexit and Italy budget- move but still remain stranded

In Europe 14th November 2018

Current EU Major Challenges- Brexit And Italy Budget- Move But Still Remain Stranded

The European Union lived an intense day on Tuesday. UK agreed on deal with the EU, but now the question if it will pass the test. Also Italy announced no changes in budget, while the IMF showed a cautious view. Further confrontation ahead between Rome and Brussels is expected. As commented by analysts at Julius Baer, “the EC is trapped in a philosophy of austerity whilst the Italian government is committed to fulfilling the election promises of a fiscal boost.”

The EC rejects Italy's budgetary plans

In Europe 24th October 2018

The EC And Italy’s Game Of Chicken: Draft Budget Dismissed. Next Step To Fine The Country ?

“The narrative of expected compromises, a watering down of stances and the serving of another “Brussel’s fudge” seems to have become less convincing after the EU rejected the Italian budget proposal in an unprecedented move,” says analysts at Monex Europe regarding the rejection of Italy’s budgetary plans. In fact, for the first time in the history of the EU, the European Commission has rejected a draft budget proposal of a member country, while sounds from the Italian camp have an equally confrontational ring to it.

An unconvincing 2019 Spanish budget

Spanish Politics 16th October 2018

An Unconvincing 2019 Spanish Budget

J.P. Marín- Arrese | The Spanish government has released its main budgetary lines, in a rather unusual and surprising way. For, it holds responsible the former PP Cabinet for most of the expenses plus a sizeable deviation from the deficit goal in 2018. The least one can say is that such a baffling message underlines its inability to curb the imbalance while enjoying power for the second half of this year.

The trick of the Italian budget law

In Europe 1st October 2018

And Finally Italy Takes A Stand Against Brussels

Last week the Italian Government approved a public deficit targets of – 2.4% of GDP for 2019-21 which will be included in the draft budget for 2019. The Minister of Finance, Giovanni Tria, has been under considerable pressure from the Lega and Five Stars, and has had to accommodate their electoral promises in the budget. One of the most important consequences of developing these budget will be a ferocious debate with the EU.