The French Government today called on the European Union (EU) to pressure from the markets, immediately adopt measures to support Spain and other countries are also making “significant efforts” in order to consolidate their accounts.
Paris has sent this message through its foreign minister, Laurent Fabius, during the visit of work done to Madrid, which has coincided with another day of turmoil for the increased risk premium on Spanish debt.
In a press appearance at the Palacio de Viana with the foreign minister and Cooperation, Jose Manuel Garcia-Margallo, Fabius has gone on under the government of Mariano Rajoy to financial harassment in recent days.
“When there are countries and citizens who make significant efforts and when making commitments but for reasons not related to speculation or market interest rates continue to grow, then we must take action,” stressed Fabius.
Remarked that if Spain is applying to “seriously” his reforms as demanded by the EU, “can not allow other elements paralyze the whole process,” referring to agreements on aid to Spanish banks adopted at the last summit Brussels in late June.
Convinced that Spain and France share the same criteria, has said that to keep walking “you have to use both legs” of an austerity budget, which should return the countries that moved away, and another growth and solidarity.
He has admitted that the 130,000 million pact the EU-led growth “may be insufficient,” but are on “the right way if you want to solve employment problems.”
Garcia-Margallo also referred to the pact and has ensured that the “music” is good, but their significance, “insufficient.”
In his view, must be supplemented with a paper plan “far more active” European Investment Bank that is aimed at SMEs, rather than infrastructure.
The minister has once again urge the European Central Bank (ECB) to act now to stop paying to Spain because of its debt, but also has given priority to be setting the stage for later adopt measures such as Eurobonds.
“The markets are expecting a long-term program. As Machado said, needs to be done by walking, but knowing what the destination port,” he paraphrased the Andalusian writer.
In the first visit by Fabius to Madrid after the arrival of the socialist Hollande the Elysee, García-Margallo is optimistic with the new stage in relations with the Executive Rajoy, despite different ideological persuasions.
“Maintaining good relations with the new presidential team Hollande is a subject of the first order. Communication between the two governments will not only be politically correct, but from a personal standpoint, fraternal and fruitful in the future of Europe, “he predicted.
Fabius has corresponded congratulating himself that the current relationship between Spain and France “could not be better.”
“This is excellent. We will not invent problems where none exist,” he noted socialist politician.
As an example, has cited the police, reminding that it was in his time as prime minister (1984-1986) with François Mitterrand as head of state when Paris decided to cooperate in a “full and complete” against ETA.
At its meeting, have a broad review of all areas of the bilateral cooperation, such as the energy and transport connections, and regional levels, with particular attention to North Africa, the Sahel and the Union for the Mediterranean.
Another central issue was the situation in Syria and the need to convince Russia to facilitate the UN passes a resolution to force the regime of Bashar al-Assad to stop the violence.
Category: Mutual Funds