Economy Calviño, unable to specify Sánchez's 11,000 million: "We are...

Calviño, unable to specify Sánchez’s 11,000 million: “We are seeing measures. I hope to present the plan in March”

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The vice president avoids mentioning “direct aid” and says the goal is to “ease the financial burden on viable companies.”

The Third Vice President for Economic Affairs, Nadia Calviño, has been unable this Thursday to specify the announcement on the eve of the Prime Minister, Pedro Sánchez, of 11,000 million for companies of the tourism and restoration.

Despite repeated questions from different deputies and senators, the vice president has repeated Sánchez’s ambiguous words 24 hours before, assuring that it will be a plan “to reinforce the solvency of companies, SMEs and the self-employed.” “We are seeing what measures would be necessary to act effectively”, has affirmed in the Mixed Commission for the EU in the Cortes feeding the idea that the announcement has been a tactical improvisation of the Prime Minister.

Calvià ± o has indicated that the objective is “to alleviate the financial burden of viable companies” and has not even confirmed an immediate calendar: “I hope to present the plan in the month of March”. Sánchez assured on Wednesday that it would be in “the next few weeks”, but there may be more than six in full business clamor for injecting direct aid in the sectors hardest hit by the economic crisis.

Throughout five minutes of response to the block of parliamentary questions on the 11,000 million, Calvià ± o has avoided mentioning the words “direct aid” and the project has focused on combating “the over-indebtedness” of companies, giving the idea that the 11,000 million will focus on companies that have contracted debts in the last year that, according to the bank itself, are not the ones that worse they are going it at the moment.

The vice president has also avoided confirming that deck you take away in guaranteed credits by the Official Credit Institute (ICO). but it has admitted conversations with the Bank of Spain and the financial sector. “We are working with the Bank of Spain and the financial sector to carry out the precise business solvency analysis.” He recalled that the measures can be taken by the Central Administration and by the autonomous communities and that he is aware “that, as a result of the pandemic, there are freelancers, SMEs and companies that have incurred additional debt which, together with the drop in activity, has generated a deterioration in their equity, when they were previously viable businesses and in profitable sectors “.

From the Government, we are going to articulate the necessary measures to avoid patrimonial deterioration of viable companies that leads them to closure or represents a drag on investments and hiring “, in line with what was announced by the president, but without going any further.

In any case, Calvià ± o has denied going behind the events. “Problems must be addressed before they are unleashed (…) The government’s line has always been to try to anticipate problems,” he has come to affirm at the parliamentary headquarters.

Regarding the workers in ERTE, it has confirmed that they are above those registered in January in February and has provided the figure of 864,000 currently.

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