Calvino Called For An End To The Debate Over The Cancellation Of The Ecb’S Debt And For Priority To Be Given To Stimulating The Economy

2021-02-08   |   by CusiGO

Nadia Calvi รณ o, the government’s third vice president, has shunned the debate on the European Central Bank’s proposal to cancel its public debt holdings. The proposal was put forward by different European economists and has the explicit support of Cristina nabona, chairman of the PSOE, and united energy. At an economic circle event in Barcelona on Monday, carlvinio called for no such debate and to focus on promoting economic growth.

“The top priority is to promote economic growth and employment. “We have to focus on, rather than engage in, other types of debates that will not help achieve this fundamental goal,” calvinio told a proposal supported by her two government partners in her position as Minister of economic affairs. On Friday, 100 economists and politicians made the proposal in the country. Among them are economist Thomas piketty, President of the Social Democratic Party Christina nabona, and Secretary of state for economic and social rights, Nacho Alvarez. They argue that the ECB needs to write off its holdings of national public debt in exchange for investment by these countries as a way to ease the fiscal position of countries affected by the cowid crisis.

The proposal met with opposition. The ECB considers this illegal and counterproductive, and other scholars believe that the debate could lead to further vetoes between northern and southern European countries. After this debate, the third vice president himself flatly rejected this fruitful debate. He believes that, for example, the proposal to deepen Spain’s fiscal reform “makes it more progressive” and more effective. As Calvino explained, the issue will be considered by a group of experts in the coming months.

In his speech to the economic circle, Calvino stressed that 2021 “must be a year of recovery.”. In order to do this, he pointed out that attention must be paid to the development of the epidemic and the deployment of vaccines, not only in Spain, but also in neighbouring countries. He stressed that the government would continue to support the production structure and employment, and provide recovery measures and assistance “when necessary”.