Spanje doet er alles aan om begrotingstekort terug te brengen naar 6% in 20111 (en)
The European Commissioner for Economic and Monetary Affairs, Olli Rehn, and the Spanish Minister of Economy and Finance, Elena Salgado. EFE
The Spanish Minister of Economy and Finance, Elena Salgado, at the end of the Economic and Financial Affairs Council (Ecofin) held in Luxembourg on Tuesday explained that the acceleration of the fiscal consolidation measures in Spain will enable the public deficit to be brought down to 6% by 2011.
In the press conference following the meeting of the Economic and Financial Affairs Council (Ecofin), the Commissioner for Economic and Monetary Affairs, Olli Rehn; and the Internal Market Commissioner, Michel Barnier, both thanked the Second Deputy Prime Minister of Spain for all her work during the six-month rotating presidency held by Spain.
Specifically, Olli Rehn said in the last Ecofin meeting under the Spanish Presidency and on behalf of the Commission, "I would like to thank her for the excellent job she has done" adding “in extraordinary times it has been an extraordinary outcome and crucial decisions have been taken to stabilise the situation in Europe".
Elena Salgado, addressing her European colleagues, insisted that the Spanish government will do "everything necessary" to ensure that the public deficit is brought down to 6% by 2011.
"We are firmly committed to achieving a joint public administration deficit of 6% by 2011. Therefore, if there are variations in the budget implementation at the different levels of public administration levels (central government, regional communities, local authorities and social security) we shall immediately take the necessary measures to achieve the 6% target," Salgado explained.
However the Second Vice-President of the Spanish Government was confident that the measures passed so far would be enough to achieve this target, as in addition to "the supplementary measures incorporated into our consolidation plan after the European Council" held on 7 May, there is also the previously existing fiscal consolidation plan, which already intended to bring down the deficit to 3% of GDP by 2013.
Olli Rehn stated that it is not always correct to group together countries, such as Spain and Portugal, "because they face different challenges" in terms of their structural reforms.
He added that Portugal is carrying out a thorough reform of its pension system, “although there is still a lot of work to be done," whereas Spain "is currently carrying out a significant reform of its labour market and of its pension system. I can only encourage these measures", said Commissioner Rehn, who also congratulated the target set by Spain to reduce its public deficit to 6% by 2011.
Olli Rehn "welcomed" the targets set by Spain and said they would be analysed next week, when the Commission finalises its own assessment.
Eurofisc
Elena Salgado stated that improving administrative cooperation has been a “priority” for the Spanish Presidency, and that the creation of Eurofisc, a multilateral exchange network to fight VAT fraud, was an important element in the battle against fraud.
Olli Rehn announced that the European Parliament should make a statement on the modification of the current regulations, in order for Eurostat to be able to audit the situation of the statistics in some countries and said that Bulgaria will be the country where Eurostat will most likely begin to exercise its new powers. "We have doubts concerning the soundness of Bulgaria's statistics. We are considering sending a mission there shortly".
The new regulations will allow Eurostat to inspect public accounts in situ at all government levels (central, regional and local). "We need exact statistics to enable the economic and monetary union to work properly," Rehn stated.
Alternative Investment Funds
Michel Barnier, the Internal Market Commissioner said that the Commission hopes to conclude the text on alternative funds (hedge funds and private equity) by the end of June.
The Ecofin also passed a recommendation for Estonia's entry into the Euro, based on the belief that the country fulfils all the established criteria.