Spanish Ministry for the Economy is willing to split deficit targets “equitably” among government levels
The Catalan Government has been insisting on the need to internally redistribute deficit objectives in Spain, splitting them in a fairer way in order to better pair the responsibility of the management of basic services with their share of Spain’s total deficit target. Currently, the Spanish Government is keeping most of the deficit allowed by the European Union for itself, despite the fact that it only represents 50% of Spain’s total public spending, and it has forced regional and local governments to a Draconian budget adjustment. The European Parliament asked EU Member States to internally split deficit targets in a fair way for the benefit of the public services aimed at the citizens. Now, the Spanish Ministry for the Economy, Luis de Guindos, talked about distributing deficit targets “equitably”, in front of the European Commissioner for Monetary Affairs, Olli Rehn.