Presentation of the Council's 2012 Report at the Nueva Sociedad Forum
Marcos Peña, President of the Spanish Economic and Social Council, set out in a talk today at the Nueva Economía Forum the contents of the Council's 2012 Socioeconomic and Employment Report, recently adopted by its plenary session by a very wide majority (with just one abstention).
Regarding the economy, Peña highlighted the importance of distinguishing between the structural budgetary deficit and the deficit due to the economic situation. He reiterated the need for the Spanish government to make an in-depth fiscal reform more in keeping with Spain's new economic model, as the current one's capacity to raise revenue has much declined. However, regarding the deficit he warned that only with economic growth will it be possible to close the budgetary gap, so he stressed the need for Brussels to promote stimulus plans in EU countries with healthy fiscal accounts, as described in the Council's 2012 Report.