The President of the Spanish Government, Pedro Sánchez, has expressed the importance of the European Union reaching an agreement with the United States to resolve their differences after the millions of dollars in aid measures against inflation approved by the Biden Administration, although he has stressed the need for Europe to «do its homework» as well.
«It is important that we do our homework and review our industrial policy», explained Pedro Sánchez in his speech at the World Economic Forum, which is being held in the Swiss town of Davos, where he assured that this issue will be something on which the Spanish presidency of the Council of the European Union in the second half of 2023 will focus.
In this sense, the Spanish President defended the need for Western allies to be increasingly closer rather than more divided.
However, at the same time he insisted that «there is homework to be done», including the revision of internal European rules on state aid.
In this way, Sánchez recalled that the Spanish government has sent its proposals to the European Commission on the electricity market, State aid and what it has been doing over the last few years «and proposing different measures for a stronger and more integrated Europe», because «common challenges require common responses».
In this sense, he questioned in his speech whether enough is being done to fight challenges such as inequality and climate change or whether the crisis is being used to slow down the green transition.
«There is much more at stake than the evolution of our economies next quarter,» warned Sánchez, assuring that Spain will be at the forefront in tackling major challenges such as the pandemic, the war in Ukraine, the energy or food crisis.
Thus, although he acknowledged that «2023 will not be a great year for the economy», he made it clear that Spain is showing signs of resilience and strength, with growth above the Eurozone average and the lowest inflation in the region, as well as institutional stability.
Source: (EUROPA PRESS)
