Economy Minister Carlos Body said on Saturday in Cernobbio (northern Italy) that the European Union must increase its resources to fill the investment gap if it wants to have global leadership and that 2026, when the recovery plan after the pandemic ends, would be the right time to create a permanent debt issuance program.
“Since 2026 is the end date of the NextGeneration, it would be the right time to reconsider the creation of a permanent debt issuance program to finance EU public goods, which require “an increase in resources,” Corpus said at the Ambrosetti Forum, which brings together leaders of global politics and economics.
“The EU must strive to gain a strategic advantage while defending its core values,” he added during a panel at the forum alongside other global experts, such as former Italian Prime Minister Mario Monti and Nobel Prize winner in economics Josep Stiglitz.
And this implies “to be leaders in defending the world order and our welfare state while meeting our defense needs, financing public goods and adopting agile and impactful governance,” he added.
In the Minister’s opinion, “We must stop being simple herbivoresbut let’s not forget what we are originally and maybe become omnivores so that we can really adapt more easily and win in this battle for evolution.
In his speech, the head of the Spanish Economy stressed that “In Spain we are thriving thanks to this positive feedback which must grow and, in parallel with our growth, we are implementing responsible budgetary policies to be able to make compatible a reduction in our deficit/GDP ratios.”
“Our goal is to reach 3% of GDP”he added, after recalling that “the Spanish economy is experiencing the fastest growth in the EU, which demonstrates our budgetary responsibility.”
The Ambrosetti Forum, held every year in Cernobbio, on the shores of Lake Como, and ends tomorrowbrings together for three days eminent representatives of economics, finance and politics to discuss, among other topics, the global challenges of the future and their impact on the economy, but also scientific and technological developments, in addition to analyzing the global geopolitical situation.
