During the Government Control Session, Mariano Rajoy
explained that Spain is undertaking a reform of its
financial sector that was tackled in other EU countries
back in 2009 but with one difference: "what others did
with their own public debt, we are going to do with help
from the EU".
In response to the Member of the Lower House for Izquierda
Plural, Juan Coscubiela, and the Member of the Lower House
for the PSOE, Alfredo Pérez Rubalcaba, the President of the
Government stressed that every country in the European
Union has supported its banks. "The European Union
spent one and a half trillion euros in 2009", he said,
going on to add that "Spain does not have those one
hundred billion euros and nor can it issue public debt. It
could have in 2009, but seeing as we had the best financial
system in the world we are lagging three years behind the
rest".
For that reason, explained Mariano Rajoy, "the EU is
going to lend us one hundred billion euros, which will be
used by the banks up to a maximum and will have to be
repaid when the time comes".
The President of the Government reiterated his satisfaction
with the deal and insisted on the need for a commitment to
Europe. In this regard, Mariano Rajoy said that he has sent
a letter to Herman Van Rompuy and José Manuel Durao Barroso
to be presented at the meeting "we will hold on the 22
June with the leaders of the major European countries in
Rome", in which he commits to fiscal integration and
banking integration. Mariano Rajoy believes that "this
will only be resolved by doing one's own homework and
with much more Europe and greater integration".
In response to a question asked by the Member of the Lower
House for UPyD, Rosa Díez, the President of the Government
stressed that "Spain has no problem of legitimacy or
governability". The Government has performed a
reliable diagnosis of the situation, has drawn up a plan,
and what the Government needs to do now is govern, although
it is willing to listen to any ideas that are put
forward.
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