March 1, 2021

Montero says that the erte by pandemic could be prolonged for tourism

The Minister of Finance and government spokesperson, María Jesús Montero, has indicated this Sunday that the social dialogue will address the possibility that the temporary employment regulation (ERTE) files with the pandemic as force majeure may extend beyond June 30 , in sectors with special difficulties, “such as tourism”.

At a press conference, Montero has thus confirmed the possibility that the temporary employment regulation files (erte) are caused by the coronavirus from July, even though the state of alarm ends in June, and has indicated that this option may not be general, but sectoral.

The minister spokeswoman has also pointed out that to achieve the arrival of foreign tourists since July, if there are no setbacks in the evolution of the pandemic, the Government will work with the sector in compliance with all health security measures.

Likewise, it will seek coordination at the international level, especially with the European Commission (EC), in order to reach an agreement on the fundamental elements of the protocols for the departure and arrival of passengers, especially with regard to air transport.

“We expect a general consensus between now and the next few days,” said the government spokeswoman, who prefers an agreement in this regard for the entire Schengen area, rather than agreements between countries.

Montero has also trusted to know at European level “in the coming days” the details on debt instruments that may be used by the countries with the greatest impact from the pandemic, such as the ESM, and on unemployment reinsurance (SURE) or whether the Restructuring Fund will consist of transfers or loans.

When they materialize soon, the Government of Spain will have “a global map” of what the debt issue that Spain will definitely have this year and about which instruments to compete with, explained Montero, who is confident that the “very good reception of the market “to Treasury auctions already held.

The finance minister hopes to achieve “interest rates similar” to those obtained “at the start of the pandemic”, thanks to the confidence of those instruments of the European Central Bank (ECB).

Montero has also indicated that the Government maintains contacts with the Securities Market Commission (CNMV) in its attempt that short-term stock positions are not affected by the companies’ listing.

Regarding the minimum vital income, to be approved by the Council of Ministers next Tuesday, the minister spokesman has indicated that it will be a Social Security benefit that will require coordination with the autonomous communities, since they have similar benefits that allow a “mattress of security “to families who are left without income.


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