Sunday, August 1

Sánchez sells stability in the US and bets on “commitment” with coalition partners


Pedro Sánchez has traveled to the US with a mission: to try to convince investors that Spain is a good market for their money. And to that he has dedicated the first 24 hours of the nearly 72 that he will spend in the North American country and that will take him to New York, Los Angeles and San Francisco. The president has granted two interviews on Wednesday -one to the Morning Joe program and another to Reuters- in which the message he wanted to convey is the stability of the Executive, a basic element for investors. In fact, it has boasted that it has managed to carry out all the reforms that it has proposed, despite its parliamentary weakness.

Sánchez travels to the US to attract investments with a first stop with funds such as Blackstone or BlackRock

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It has done it a few hours after the Government has managed to save by the minimum – and with disagreements within the coalition itself – the decree to end the abuse of the temporary status of the interns. The multi-party bargaining has ended up forcing the government to relax some of the requirements for temporary administration employees. “We are committed to our partners, not only in the coalition government but also in Parliament,” said Sánchez another frantic day in Congress, where the agreement has reached once again in extremis.

Sánchez recalled that last year the coalition managed to carry out the General State Budgets and has assured that it “plans to do the same this year and next year.” Despite the fact that with the approval of the public accounts for 2021 the legislature was considered saved, Sánchez agrees to approve those for 2022, which will begin to be negotiated shortly, and those for 2023 -when the electoral cycle approaches-. The president has recognized that “stability” and “certainty is important for foreign investment” at a time when he intends to achieve a mobilization of 500,000 million of private capital with the Recovery, Transformation and Resilience Plan.

This intention to attract investment has been evident in the meetings that Sánchez has held with the main vulture funds that have their headquarters on Wall Street, some with important interests in Spain, such as Blackstone, which owns more than 30,000 rental homes. According to the countrySome of these companies have shown concern about the housing law that the Executive prepares and about the labor reform. In Moncloa they assure that the president was not going to make legislative promises to those investors. In the Reuters interview, Sánchez has opted to carry out reforms in the fiscal framework – he has spoken of global taxation – and the labor market, but has assured that they will serve for “recovery” and “growth”, two issues which has ensured that “investors like it.”

The president has taken the opportunity to send a message to the PP in full offensive by Pablo Casado, who assured this Wednesday that the PP is already the first force based on what the polls predict: “We leaders have to base ourselves on the facts. It is the great difference between the opposition and the Government: we achieve results, we attract investment and Spain comes out very well from what has been done at such a difficult time in our history. ” “And what is the following?”, Has been asked: “The national budget, the most important policy that must be approved in Congress.”



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