Spain and the Netherlands, sometimes so far apart in some heated economic debates, are now much closer. First Vice-President and Economy Minister Nadia Calviño and her Dutch counterpart Sigrid Kaag yesterday formalized an alliance with a document in which they call for relaxing European fiscal rules on deficits and debt.
"In a context of high debt levels, Member States should credibly commit to building fiscal buffers to be prepared for the next crisis through country-specific consolidation strategies that are realistic and gradual, but also ambitious, as well as compatible with economic growth and job creation, "- reads the document and that they presented to their colleagues in the Eurogroup.
According to Calviño, "it is time to leave behind what divides us to concentrate on what unites us." Therefore, the document finds the balance between the demands of the countries of the north, led by the Netherlands, and those of the south. On the one hand, it emphasizes fiscal sustainability and establishing specific budgetary paths for each country that do not impede growth. In addition, the need for both public and private investment is emphasized, in times such as the present.
The document is part of the debate initiated on fiscal rules, after the pandemic and pending the proposal of the European Commission.
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