Financieel toezicht heeft hoge prioriteit voor Spaans voorzitterschap

The Spanish Second Deputy Prime Minister and Minister of Economy and Finance, Elena Salgado. EFE

Financial supervision and promoting a sustainable economic model are among the top priorities of the Spanish Presidency of the EU, according to the Spanish Second Deputy Prime Minister and Minister of Economy and Finance, Elena Salgado, when she appeared before the Committee on Economic and Monetary Affairs of the European Parliament in Brussels.

“We value the actions of the European supervisory authorities very highly, but this function does not disqualify national supervisory authorities from carrying out their role in this area. We will attempt to strike an appropriate balance”, said Elena Salgado during question time at the Committee meeting.

Elena Salgado pointed out that the Spanish Presidency will continue to build on the results of the Swedish Presidency, ensuring coordination with subsequent Presidencies. She stated that “we must try to rectify the structural weaknesses in our economies, encouraging a sustainable economic model that can meet the challenges that Europe is facing".

She indicated that the Spanish Presidency is taking place at a “key moment, when the economic recovery is just beginning to become apparent" and the means of gradually withdrawing the financial incentives are being studied.

Elena Salgado made special mention of the need to “promote stable, balanced and sustainable economic growth” adding that “we have to go even further than merely reducing the deficit, as sustainability is an essential requirement".

Having remarked that “we are ready for Ecofin (the Economic and Financial Affairs Council) to come up with solutions for meeting the challenges that Europe is facing", Elena Salgado defended the “fundamental role” that the EU must play on the world stage.

On the subject of the tax system, she said that “we are determined to improve transparency and closer cooperation between Member States to combat tax evasion", adding that one of the priorities is to "work to prevent tax evasion" and promote transparency and information exchange agreements with third countries.

She pointed out that the Spanish Presidency of the EU wants to make progress in issues such as VAT and indirect tax, as well as in the intercommunity fight against fraud.

Although there is as yet no formal proposal for the "2020 Strategy", Elena Salgado said that “we understand that the strategy must be sustainable at a local, environmental and economic level", adding that the document to be presented must adhere to these requirements.

“The crisis was a financial one but it has also created job losses, so the strategy must be sustainable in social terms", stated Elena Salgado.