Sat. Apr 20th, 2019

Spain will present a proposal to promote European unemployment insurance

Spain will present a proposal to promote European unemployment insurance



The Minister of Economy, Nadia Calviño, announced today that Spain will present in the coming days to its European Union partners a proposal for the creation of a common unemployment insurance, an element that they consider essential to allow stabilizing the economy of the eurozone in cases of crisis.

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"We have prepared a document that will be circulated in the coming days to the member states precisely on this idea of ​​common unemployment insurance because we think it is fundamental to build an EU for citizenship," Calviño said at a press conference at the end of the informal council of Ministers of Economy and Finance of the EU in Bucharest.

This contribution, of a technical nature and on which the minister did not give specific details, is part of the debates regarding the future budgetary instrument for the eurozone that the ministers are designing for June.

As agreed in December by European leaders this fund should be used to improve competitiveness and reduce economic differences between countries, but Spain argues that it should also have a stabilizing component.

"This instrument can not repeat what the structural funds, which deal precisely with convergence and cohesion, do, from our point of view it is necessary that this convergence includes the convergence at the moment of the economic cycle of all the member states," the minister insisted. .

This difference in the economic situation of the euro states is one of the "potentially most destabilizing elements," Calviño said, adding that right now there is no instrument to avoid a deep recession in one of the member states.

The Spanish minister acknowledged that this is a matter in which "there is no unanimous approach on the part of the member states but that Spain will continue to support" as it has done so far in the debates on the subject.

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