Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Spain's Sanchez renews call for debt mutualisation - newspaper

EconomyMay 09, 2021 07:56AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
2/2 © Reuters. FILE PHOTO: People sit at the terrace of a bar, amid the coronavirus disease (COVID-19) pandemic, in Madrid, Spain, March 12, 2021. REUTERS/Juan Medina 2/2

ATHENS (Reuters) - Spain's Prime Minister Pedro Sanchez on Sunday renewed his call for debt mutualisation, saying it will help Europe better compete with other countries around the world.

In an interview with Greek To Vima newspaper published on Sunday, Sanchez said that an agreement by the European Union on an unprecedented 750 billion euro ($912 billion) plan to finance the recovery of the block from the coronavirus pandemic has been a "great success".

However, Europe still needs to work to deepen its fiscal integration through a common banking and capital markets union.

"A European fund and the full mutualisation of debt are important issues so that we make a leap of high quality in the future of the EU," Sanchez said ahead of an official visit to Athens.

"Otherwise, we risk being left behind in a world which is becoming more and more competitive."

Spain and Greece, with a high debt-to-GDP ratios, would benefit from some sort of collective borrowing which would ensure that their economies have equal chances of recovering from the pandemic with other less indebted countries.

However, Germany, among other nations, has long been opposed to issuing common debt with other European nations, arguing that it would stop individual countries from pursuing structural reforms and balancing their budgets.

Spain and Greece, two popular tourist destinations in the Mediterranean, have also backed a joint EU vaccine certificate that will make it possible for travellers to prove they have been vaccinated against, or tested negative for, COVID-19.

Sanchez hoped that the so-called "green pass" will be ready ahead of the summer holiday season.

($1 = 0.8222 euros)

Spain's Sanchez renews call for debt mutualisation - newspaper
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email