Sánchez asks to reform the fiscal rules “because they are difficult to comply with”

the german chancellor Olaf Scholz has opted to return to Stability Pact for understanding that it is what has given the framework and the bases to be able to agree on the Recovery Fund.

However, the President of the Spanish Government, Pedro Sanchez, has advocated for reform fiscal rules because “they are too complex” and “hardly achievable” in the context of a pandemic.

In this sense, he has called for an inclusive debate and without creating blocs to address the medium-term financial sustainability of the most indebted countries.

This was stated by both during the press conference after the meeting that they held today in Moncloa.

The German chancellor has been very clear: “Indeed, the past has shown that it is when we jointly solve economic problems in the EU that things go best for us. And the stability pact has given us the necessary framework for the recovery fund”.

However, the Spanish president had already proposed at the beginning of his speech and before Chancellor Scholz opted to return to the Stability Pact, that the fiscal rules be reformed.

In this sense, Sánchez stated that, during the meeting with Scholz, both countries agreed that the “fiscal rules that are currently suspended are too complex and difficult to comply with in the context of the pandemic.”

For this reason, the head of the Spanish Executive has said that “the Government of Spain considers it important to reform them taking into account two considerations”.

As he explained, the first of these would be to respond to the climate challenge that young people are asking for and the digital transformation that “on many occasions both go hand in hand”; and secondly, to guarantee financial sustainability in the medium term.