A la espera que el acuerdo PSOE / PP disipe las graves dudas que pesan sobre el futuro de España…
[ .. ]
Financial Times estima que la reforma constitucional pudiera permitir “crecimiento y prosperidad, la próxima década…”
Spain’s main political parties have agreed ambitious plans to limit public debt and budget deficits by changing the constitution and requiring governments by law to keep debt and deficits below specified levels.
Hoping that the deal will dispel bond market doubts about Spain’s creditworthiness, leaders of the ruling Socialists and the centre-right Popular party negotiated into the early hours of Friday morning to reach agreement.
The changes will commit Spain to abide by EU limits – currently 60 per cent of GDP for accumulated debt and 3 per cent of GDP for annual deficits – from 2020.
Given that Spanish debt is expected to reach 70 per cent of GDP next year, this will oblige Spain in normal circumstances to have budget surpluses or economic growth, or both, in the next decade.
Under the plan, the maximum deficit allowed from 2020 over the course of an economic cycle will be 0.4 per cent of GDP, of which the centre will account for 0.26 percentage points and the 17 autonomous regions 0.14. Municipalities will be obliged to balance their budgets.
Spain’s annual budget deficit peaked at 11.1 per cent in 2009, and is due to fall to 6 per cent this year and to 3 per cent in 2013. [ .. ] [Financial Times, 26 / 27 agosto 2011.Victor Mallet, Spanish parties agree debt and deficit limits].
Las negritas son mías.
Crecimiento y prosperidad “impuestos” a España:
- Merkel y el BCE imponen a Zapatero la reforma de la Constitución española.
- PSOE y PP pactan la derogación constitucional del socialismo.
PS. Wall Street Journal, Spanish Parties agree on Deficit Cap.