October 19, 2020

Spain will have 140,000 million from the fund, 72,700 in direct aid


Updated:

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Spain will receive about 140,000 million euros from the European recovery fund, of which 72,700 million will be given in direct aid, as announced by the Prime Minister, Pedro Sánchez, in assessing the agreement reached today by the Council on said fund and the multiannual financial framework.

«It is a great agreement for Europe and for Spain; have no doubt that today has been written one of the brightest pages in the history of the EU “, Sánchez said at a press conference in Brussels shortly after the consensus was finally reached.

He has also defined it as “a true ‘Marshall Plan’ to give a forceful answer to the Covid-19 crisis but also to tackle the transformations that the country needs in the future, and has highlighted the “unprecedented” fact that the European Commission is going into debt for the first time to finance the fund.

The head of the Executive has said that he understands that the so-called “emergency brake” has been promoted because before an instrument as important as the fund, and given that all of them are going into debt to finance it, it is normal to want to watch over how spend plans and programs.

He also pointed out that, as he requested, this method of control does not break the institutional balance or degrade the position of the European Commission.

And about the greater or lesser confidence that other countries may have about the Spanish reforms, he recalled that the country’s agenda is “aligned” with that of the European Commission.

«Today all Europeans win and the European Union comes out much stronger“Sanchez insisted, for whom the negotiation of this agreement has been an” extraordinary challenge “that has required” strenuous work “, but whose result” has been worthwhile “.

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