June 5, 2020

Gual (CaixaBank) calls for more European fiscal coordination to face COVID

The president of CaixaBank, Jordi Gual, said today that the economic policies implemented to deal with COVID-19 “are going in the right direction”, although he considered that “the current situation also deserves a coordinated and substantial fiscal effort at European level “.

Gual has called for greater European coordination in the fight against the pandemic and the application of “mechanisms for sharing spending between countries to avoid distortion of the single market”, during the holding of the CaixaBank ordinary general shareholder meeting, which for the first time Once it has been done electronically.

“Only in this way will all countries be able to give a sufficiently strong response to this crisis and will avoid the distortion of the single market, which means that some countries can support their productive fabric more than others,” said the president of CaixaBank.

Gual, who has begun his intervention by conveying his condolences to those affected by COVID-19, has highlighted the “forcefulness” in the response of the European Central Bank (ECB), which has promoted programs for the purchase of public debt, liquidity injections to the financial and relaxation system of prudential requirements.


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