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Sánchez: "There is no rescue. There is a common EU response to the crisis"


The Prime Minister, Pedro Sánchez, has denied the possibility of a rescue to Spain due to the strong impact of the coronavirus crisis in our country. To Bolsamanía's questions, Sánchez pointed out that "There is no bailout. What is being seen is a common response from the EU as a whole to the crisis."

The President of the Government has listed in this regard the economic measures that Europe has been announcing to face the pandemic, first pointing out the 540 billion in loans that have been mobilized, along with loans from the European bailout fund (MEDE), as well as the fund for ERTE. Despite being asked about it, Sánchez has avoided specifying whether Spain will continue to pressure Europe to approve the so-called Coronabonos, a measure opposed by, among others, Germany.

Moody's credit rating agency believes that Spain will have to request a ransom from Europe for the coronavirus. "We hope that Spain activates the enhanced European Stability Mechanism (stable Aa1) credit line for virus-related spending across other member states and is a key recipient of the EU unemployment insurance fund (SURE)," they claimed in a report late last month. "Overall, European institutions could cover around 59% of Spain's total gross debt requirements by 2020 (including refinancing of short-term Treasury bills)," they added.


Pedro Sánchez has said that Spain has given "an example to the world of social discipline" in compliance with measures to curb the disease, and has appealed to the unity of all the Autonomous Communities to overcome the situation.

The Prime Minister has also pointed out that "the great lesson of this crisis is that we need to strengthen our public services"and it has made clear that the crisis cannot serve as an excuse to abandon the Government's objectives of improving the labor market, among other measures.

On the recurring issue of the number of tests that Spain does to detect Covid-19, Sánchez has simply stated that "we are one of the countries that is carrying out the most tests", and on the controversy of making public the names of the experts who decide how to proceed in the de-escalation phase, the President has limited himself to affirming that "the procedure is priced", and that the officials of the Ministry of Health, the most of the time after reaching a consensus with the Autonomous Community, as well as "experts of extraordinary professionalism and commitment".

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