All posts by Carmen Gomaro

Carmen Gomaro - leading international news and investigative reporter. Worked at various media outlets in Spain, Argentina and Colombia, including Diario de Cádiz, CNN+, Telemadrid and EFE.

Sánchez "normalizes" Junqueras before breaking another barrier with Junts and Bildu

Every step or decision has consequences. Nothing is coincidental and everything is measured. One of the main concerns of the Government in the negotiation that it has had for a long time with ERC and Junts is that the “fight” between both parties implodes the investiture of Pedro Sánchez. They seek to balance the scales and this is where the telephone conversation this Wednesday between the socialist candidate and Oriol Junqueras is framed, a key step, the “normalization” of relations in the prelude to Sánchez taking part in another unusual step: sitting down with EHBildu and Junts.

Until now, a conversation between Sánchez and Junqueras had never transpired, beyond the greeting they exchanged in Congress in 2019 when the ERC leader approached the socialist's seat.. Four years without a direct relationship, at least that is publicly known.

Government sources explain that it is a “good sign” that the relationship has been “normalized at that level”. Sánchez initially defended the Supreme Court ruling that condemned Junqueras, among others, but later promoted the pardons. What happened on Wednesday is one more step, another in the sequence carried out by the acting President of the Government, which rehabilitates the ERC leader as a valid interlocutor. Does that mean that Sánchez will speak with Otegi and Puigdemont? Neither Ferraz nor Moncloa confirm or deny. It is true that Puigdemont does not hold an organic position in Junts, while Junqueras does in ERC.

The truth is that the socialists work in a balance in the face of the fear that the negotiation is going through that the excessive prominence or weight given to Junts will irritate the Republicans, stable partners of PSOE governance in recent years.. “ERC may be bothered that the focus is on Junts,” socialist sources warned this newspaper a few weeks ago.. What Sánchez intends to convey is that “everyone is in the same conditions”, and that if there is a milestone with Junts for being the first meeting, there is also one with ERC, with the first known telephone conversation with Junqueras. Because the leader of the PSOE had already sat down with ERC: Gabriel Rufián went to La Moncloa back in September 2020.

“The conversation with Junqueras has gone well,” reported government sources.. The quote served to show that Sánchez himself takes the helm to try to save not only his inauguration, but as this newspaper reported, to ensure a lasting Government that does not fall at the first opportunity.. Hence the Budgets are in the equation of the negotiations. A Public Accounts for 2024 guarantee the socialists a minimum of two years in power, if not more. That is why Sánchez conveyed to Junqueras “the need to reach an agreement on progress and stability.”

Vote by vote

However, the response that Rufián gave publicly to that request, after meeting with Sánchez in Congress, means pouring cold water on that claim.. «ERC negotiates for the investiture, not for the legislature. “Whoever believes that the legislature can reach an agreement with ERC does not know our way of working,” the spokesperson warned.. The message was clear about it. “ERC votes are sweated,” and they will be sweated “game by game,” he said, paraphrasing Simeone.. At the political level, this means vote by vote.. Week by week. And that also means having the ability to squeeze and condition each text that the Government wants to approve in Congress.

The recovery of contact between the leaders of the PSOE and ERC is valued very positively by the Republicans for being “normal, good and healthy”. “The abnormal thing,” said Rufián, “is what happened before.”. This formation is not afraid that a similar call could also be made to Puigdemont, before Sánchez is seen this Thursday with Miriam Nogueras in Congress, although it is something that the president can get around with the excuse that he does not have an organic position in Junts.. “I don't know,” the socialist spokesperson, Patxi López, said of that hypothesis.

For now, the round is being more of a staging for public opinion than anything else -as the parties themselves recognize-, because the negotiation takes place through other, more discreet channels, where real progress is being made.. That is why Sánchez was not surprised by the three big requests that ERC sent him again, since they have been in contact with the PSOE “since the election night.”

At a press conference after the meeting, Rufián once again presented the “demanding but reasonable” conditions that his party makes to unblock the investiture of the leader of the PSOE.. There are three: amnesty, “voting on the resolution of the conflict” (referendum) and more material issues such as addressing the Catalan “deficit” and the improvement of Cercanías trains (Rodalíes).

«The three folders are equally important. “Whoever believes that we are going to close this with progress in one is wrong,” Rufián stressed, making it clear that only achieving amnesty would not be enough for them, because there must be “ballot boxes.”. Thus, he continued, “voting is as important as taking a decent train.”

Although Rufián highlighted that ERC has already extracted from the Government the commitment that the dialogue table between governments culminates with some democratic endorsement of what comes out there, he did express that the ERC proposal is none other than voting for self-determination. Thus, he ventured that it is “quite likely” that talk of a referendum will cease to be a “chimera” in the near future.

In any case, the Republican spokesman claimed that it is time for “discretion.” To “talk little and negotiate more”, and with this he excused himself from telling any minimal details of the amnesty that is being prepared.

The National Court opens an investigation for terrorism for the disappearance of two Spaniards in Israel

The National Court has opened an investigation into the disappearance of two Spanish citizens and the Israeli wife of one of them after the Hamas attacks last weekend in Israel. Judge María Tardón considers that the events could constitute terrorism crimes.

The judge makes the decision after the Citco (Intelligence Center against Terrorism and Organized Crime) sent to the Court the complaints presented by the families of the victims missing in the conflict zone: a man and a young woman who were military service in the Israeli forces as a holder of Spanish and Israeli nationality.

Since the preparation of the report, the Ministry of Foreign Affairs has confirmed that the girl is among the deceased.. This is Maya Villalobo, who was doing military service at the Nahal Oz base, very close to the border with Gaza and one of the Hamas targets..

As for the marriage, it is Iván Illarramendi Saizar, a native of Zarautz (Guipúzcoa). He lived with his Israeli wife in a kibbutz very close to Gaza.. The family's complaint extends to the wife, whose disappearance the Court has also decided to investigate as she was kidnapped along with the Spaniard.

The Central Court of Instruction number 3, which has taken charge of the investigation, requested the opinion of the Prosecutor's Office on the opening of a case. The Public Ministry considered that the Court had jurisdiction over what happened, since it involved terrorism crimes and there were victims of Spanish nationality.. The Prosecutor's Office had opened its own investigation after what happened, which must now be archived when a judge intervenes in the matter.. You must also file a complaint so that the facts can be prosecuted in Spain.

The drastic cuts to universal justice in recent years maintained the possibility for the Spanish Justice to investigate this type of terrorism crimes with a Spanish victim.. The case can be kept open as long as there is no other comparable case in Israel. If a criminal procedure is activated there that includes the deceased and the missing person, the Court's investigation should be closed, as has previously happened in proceedings related to Israel.

According to the facts known so far, those responsible for what happened could have committed one crime of terrorist murder (punishable by permanent imprisonment) and two of terrorist kidnapping (20 to 25 years), in addition to the corresponding charges of belonging to a terrorist group.

Jon Rahm and the impact of the Spanish Open: 3.2 million in prizes, 40,000 spectators and 20 million in income

The Villa de Madrid Country Club looks splendid with the figure of Jon Rahm. More than 40,000 spectators will travel to this lung of Madrid to follow the developments of the Spanish Open that starts today and will end next Sunday. A tournament that has taken a leap in quality in player participation and has a notable economic impact for the city.

The championship sponsored by Acciona has a prize pool of 3.2 million euros, almost double the previous edition: 1.7 million. An outlay that only falls behind the Rolex Series of the DP World Tour, the five outstanding tournaments of the year, and some specific events, such as the Alfred Dunhill held last week.

Last year, 43,211 spectators attended the tournament throughout the entire week. The economic impact was almost 20 million euros, with a direct investment in the Madrid economy of 9 million. The spectator who agreed to see Rahm up close spent, on average, 367.61 euros. In 2022 there was a large presence of visitors from outside Madrid: one in four spectators came from other provinces and 8% were foreign audiences. The average expenditure of visitors from outside Madrid reached 800 euros. Public administrations collect about 2.6 million euros in taxes.

Business epicenter

These are some important figures that point optimistically to the future of one of the oldest tournaments on the calendar, since its first edition dates back to 1912.. In 2019, Madrid Trophy Promotions, with Gerard Tsobanian at the helm, rescued the tournament. They are the same ones who achieved the miracle of tennis in the capital of Spain and who seek to replicate that successful business model in golf.. At the moment they are achieving this thanks to two important axes: the presence of Rahm and the concept of entertainment and leisure, always looking at the world of business and public relations.. Once again, the Country Club, with its VIP tents, will be the epicenter of business this weekend.

Rahm is the big draw. “Playing in front of an audience that loves you is a unique experience. Being a reference for them and having the honor of entertaining them is something that makes me feel proud,” said the Barrika player at the presentation of the event.. The Basque is happy with the reception of the tournament, but wants to go further: “It is not known what is going to happen with the calendar and the tournaments. The Spanish Open has been growing in recent years, this year Justin Rose is coming, but we would have to have more ambition to get the best to come and play, to compete with the tournaments in the United States and the best in Europe. With ambition and time, it can be achieved.”

“If it's in my power, I'll be there”

“If it is in my power to make the Spanish Open bigger, I will be there, once the necessary changes have been made, I can convince the best players to come. Madrid is a very attractive city for everyone. If it's in my power, I'll be there,” insists Rahmbo. The calendar benefits the Madrid Open, since the competition in the United States drops a lot in this final stretch of the year, which is why some American players, if they find incentives, cross the pond as Wydham Clarke (winner of the US Open this year) will soon do. and Matt Kuchar at the Estrella Damm Open in Andalusia.

On the sporting side, Jon Rahm also eclipses everything. He will pursue his fourth victory to surpass Seve Ballesteros and get closer to Ángel de la Torre's five. His great rival will be Justin Rose. Of course, Sergio García and two of the leaders of the future of our golf will be missed: Eugenio López Chacarra and David Puig. Both have won this year on the Asian Tour and will have to compete this week in the LIV Golf tournament in Saudi Arabia.

The RFEF may have a new president between February and March 2024

The president of the Higher Sports Council (CSD), Víctor Francos, has confirmed that this Wednesday he has signed the authorization for the elections to take place for the Royal Spanish Football Federation (RFEF). The representative of the highest sports organization, in a meeting with journalists, has expressed that the electoral process could take place between mid-February and early March 2024.

There would be a possibility that they would be held earlier, as reported at that meeting, and that is for the Court of Arbitration for Sports (TAD) to decide.. This Wednesday, the CSD submitted to this body the complaint presented to it by Miguel Ángel Galán, president of the CENAFE coaching school, in which he accused Pedro Rocha, interim president of the RFEF of “very serious infractions.”.

In his opinion, Rocha had to call elections imminently after the resignation of Luis Rubiales according to article 31.8 of the RFEF statutes.. However, the CSD believes that there is no regulation that establishes a deadline for calling elections or that they must be immediate.

The announcement was made at a meeting with journalists for the presentation of the Draft Order that regulates electoral processes in the Spanish Sports Federations.. A project that, according to its processing deadlines, will be binding for all elections that take place in 2024.

This project, which is based on five axes: democratization, good government, equality, inclusion and transparency, was conceived in August 2023, shortly before the controversy over the non-consensual kiss between Luis Rubiales and Jenni Hermoso, but it has been evolving with the circumstances that the Rubiales case has generated.

Anti-rubials

With respect to good governance, for example, people who have causes of incapacity, incompatibility, ineligibility or who have been convicted by a final judgment by the disciplinary bodies of national or international federations or by national sports courts are prevented from being candidates for the General Assembly. or international.

An attempt is also made to limit clientelism in federative positions by eliminating the ex-officio positions of the Assemblies so that all their members must be elected.. In addition, the requirements to be an eligible member or voter are reduced to facilitate access to representative positions.. Now it is enough that they are federated members of legal age who have participated in some competition or activity of their federation.

Equality

One of the substantial parts of this new order, which replaces another from 2015, is the promotion of equality. In this draft, which has already been sent to all interested parties (federations, clubs, establishments, athletes…), the presence of women in federative assemblies is promoted..

A greater presence of women in the federations will be guaranteed according to the highest range of the percentage of female licenses in each sport.. That is, in estates with a number of female licenses between 0 and 10%, 10% of women must be elected; If they are between 10% and 25%, 25% and greater than 25%, this percentage must be 40%.

Finally, this project, which if it follows the normal deadlines must be approved at the end of November, states that the votes must be equal, free, direct and secret. These votes will have to be ratified with a national identity document or passport.

For the CSD, this order wants to democratize and make the federative electoral processes more transparent and put athletes at the center of them, giving them more weight. Without forgetting, of course, the need to put a stop to cases like Rubiales'.

Netanyahu forms emergency government with opposition before tightening offensive on Gaza

Under the still immense and widespread shock in his country over the attacks carried out by Hamas and the clamor from broad sectors in favor of the unity of its leadership in one of the most traumatic moments in Israel's history, Israeli Prime Minister Benjamin Netanyahu and the centrist leader Benny Gantz, have agreed to form an emergency government to confront the war with the jihadist group.

The pact of the two leaders, who joined in a coalition against the coronavirus crisis in 2020 and then divorced acrimoniously, involves the creation of the so-called “war management cabinet” that will be formed by the two together with the current one. Minister of Defense, Yoav Gallant.

The incorporation of the former Minister of Defense and head of the Israeli Army who leads a party in which another former head of the Tsáhal, Gadi Eizenkot, is also a member, aims to send “a message of firmness in difficult times for our people,” according to official sources.. What there is no doubt is that the new Government has much more experience in military issues.

The Government formed at the end of 2022 with the Likud, two ultra-Orthodox parties and two other ultra-nationalists will be joined by five ministers from Gantz's faction, which in fact is the union of his centrist list (with some center-left politicians) and the conservative party of the former Likud Minister Gideon Saar.

Israel continues bombing the Gaza Strip while Hamas attacks spread panic among the Israeli population El Mundo

However, it is worth remembering that the second most voted party in Israel led by the former prime minister and head of the opposition, the centrist Yair Lapid, remains on the sidelines. In the joint statement, Netanyahu and Gantz agreed to reserve a position for him in the new command room.

The emergency cabinet in the war against Hamas will be made up of Netanyahu, Gallant and Gantz while Eizencot and Minister Ron Dermer (Bibi's trusted man) will act as observers in the restricted forum. In this way, the far-right minister Itamar Ben Gvir loses relevance in security matters and especially in this crisis – already minimal in itself.

In his speech with Gallamt and Gantz, Netanyahu denounced that Israel fights with a “cruel enemy” and added: “Hamas is Daesh. “We will crush and eliminate him like the world crushed and eliminated Daesh.”

The formation of the new cabinet does not mean that Israel will relax the enormous pressure, based on bombs and civil restrictions, on Hamas and Gaza. With Gantz and Eizenkot, who like many in the center left demand a tough offensive against the perpetrators of Saturday's massacres that they compare to Daesh, the cabinet will feel more legitimized externally and internally to toughen the offensive and make difficult decisions as a ground operation in the Gaza Strip.

In this way, the war started by Hamas has definitively buried the controversial judicial reform proposal launched in January by the Minister of Justice, Yariv Levin, which unleashed an unprecedented division in Israel with more than 40 consecutive weeks of protests and damage palpable in the economy, internal cohesion (with effects on the reservist corps) and the deterrence capacity. As expected, Netanyahu and Gantz agreed not to promote bills or decisions unrelated to the management of the war.

“Large scale” bombing

Meanwhile, on the fifth day of the war sparked by Hamas' surprise attack on Saturday, exchanges of fire continue, with rockets launched from Gaza hitting the city of Ashkelon and even Tel Aviv.. and with continued Israeli aerial bombardment against the Gaza Strip, “on a large scale,” as reported by the Israeli armed forces and confirmed by witnesses in Gaza.

A rocket hit the Barzilai hospital in Ashkelon, located 10 kilometers north of the Gaza border, causing only material damage.. The fighter jets bombed this Wednesday the Islamic University of Gaza which, according to Israel, was a place to train experts in military espionage and to develop and produce weapons, in addition to hosting conferences aimed at raising financing for the Islamist organization, says a statement from the Army, reports Efe.

In the Gaza Strip, official figures report 1,055 dead, more than 5,000 injured, and three schools and more than 500 residential buildings destroyed.

The Strip is under constant bombardment by Israeli fighters and completely isolated from the world, without electricity or fuel.. The possibility of leaving is only a hypothesis, since Egypt's Foreign Minister, Sameh Shukri, avoided answering this Wednesday the question of whether his country will open the Rafah crossing, which connects the Gaza Strip with the Sinai Peninsula. to allow the Palestinians to flee from the blockade.

“There is a complete blockade imposed and all Israeli crossings are closed to Gazans. Egypt kept the Rafah crossing open to provide humanitarian aid, food and medical supplies,” Shukri said, adding that “conflicts encourage irregular migration and flight to safer areas.” “And, of course, Europe is a center of attraction.”

France fears that the conflict will be imported into its territory and reinforces security

France fears that the Israeli conflict will somehow extend to French territory, where there is an important Jewish community. There have been fifty anti-Semitic acts since Saturday. The Government spokesman, Olivier Véran, warned this Wednesday that Paris wants to “avoid an escalation” and prevent “the conflict from being imported” to France.. He has insisted that the Jewish community has “full protection.”

This warning comes after it is known that there are 20 detainees for the anti-Semitic attacks committed since last weekend on French soil.. Three foreigners who are going to be expelled from the country for this. The data was given by the Minister of the Interior, Gérald Darmanin, who visited a Jewish school near Paris on Wednesday accompanied by the Minister of Education, Gabriel Attal.

At the moment, security has been reinforced in about 500 sensitive places, synagogues and Jewish schools.. About 10,000 gendarmes and police are watching them, according to the Interior.. In France, anti-Semitic acts are not isolated. 90% of students of this religious denomination say they have been victims of some act or threat, according to a survey by the IFOP study center commissioned by the Union of Jewish Students of France (UEJF).

On Monday a demonstration was held in Paris in support of this population. On Thursday there are two calls in support of Palestine, but they have been prohibited by the Police Prefecture considering that they could be conflictive and, above all, end in an apology for anti-Semitism. On Tuesday, some rallies were dispersed, also under the Palestinian flag for this reason.

The New Anti-Capitalist Party, for example, is being investigated for advocating anti-Semitism and terrorism after showing its support for “the Palestinian resistance” after the Hamas attacks, which it did not condemn.. Prime Minister Elisabeth Borne recalled yesterday that “France will not tolerate any anti-Semitic act or statement.”

“We will use all means to protect our compatriots,” Darmanin recalled during his visit to the Jewish school.. The head of Education, Gabriel Attal, has indicated that “the priority today is to guarantee security in educational centers”. He cited several “totally unacceptable” situations that have occurred these days, such as the case of a class where a student drew a swastika on a blackboard against a Jewish student.

The positioning in the face of the conflict divides the political class. Emmanuel Macron and members of the Government have condemned the terrorist attacks without fissures. The left is divided, especially after the ambiguous statements of Jean-Luc Mélenchon, leader of La Francia Insumisa, on the matter. He compared the Hamas attacks to the Israeli occupation.

These words have generated discomfort within the Socialist Party, with whom it shares an alliance in the French Assembly. There is also controversy at the other extreme, where the silence and absence of far-right politicians at last Monday's demonstration has been criticized.. There were, among others, former president Nicolas Sarkozy, former prime minister Manuel Valls and the mayor of Paris, Anne Hidalgo.

Meanwhile, anguish grows over the twenty Franco-Israelis missing in Israel, of whom there has been no news since Saturday. It is feared that they are kidnapped by Hamas. For now, the French Foreign Ministry has confirmed the death of eight French citizens, although without detailing the circumstances or their identity. A flight has been organized on Thursday to begin the repatriation of French people from the country.

Zelensky arrives in Brussels by surprise so that Ukraine is not forgotten by the war in Gaza

The Ukrainian president, Volodymyr Zelenski, made a surprise appearance in Brussels on Tuesday to participate in the NATO Defense Ministers' meeting. The transfer, the first to the Alliance headquarters since the invasion, had not been announced for security reasons, as always happens. But what is unusual is for Zelensky to leave the country for something that those below him in the pecking order usually do.

The trip, just a few days after returning from Granada, where he also participated in the meeting of the European Political Community along with 50 other continental leaders, is due to the extreme concern that is plaguing Kiev these days, and not only at the prospect of a new winter of attacks and power outages. Because of the disturbing messages coming from the United States and its budget negotiations. Due to the doubts and misgivings of more and more allies, from Hungary to Poland through Slovakia, which after the recent elections plans to freeze the shipment of weapons and ammunition. And above all because of the fear that Ukrainians have that the brewing war in Gaza will end up attracting attention, not in the media, that too, but in foreign ministries around the planet, starting with Washington.

“President Zelensky, dear Volodimir, it is a great honor and privilege to welcome you back here at NATO headquarters and to return the warm welcome you extended to me when I visited Kiev just a couple of weeks ago.. Your leadership, the bravery of the Ukrainian armed forces, and the determination of the Ukrainian people continue to impress and inspire us all.. As you know, we will stand by them and provide support to Ukraine, because this is really important for all of NATO.. Your fight is our fight. Your security is our security and your values are ours. We will support Ukraine for as long as necessary,” said the Secretary General, Jens Stoltenberg, at the beginning of the meeting.

“We have very specific things to ask for. The priority is air defense systems, we need them for very specific geographical points in our territory, to save energy networks, people and the grain route. It is also important that we have long-range missiles or long-distance weapons. It doesn't matter what they are called, the problem is getting them. We need them for one reason only: to expel Russia from our land,” said the president. Likewise, he will take the opportunity to demand that Belgium stop putting obstacles in the rounds of sanctions against Russia due to its desire to protect the diamond trading business, and to insist on the need for combat aircraft.. “Long-range missiles are also important. “We especially need them to push Russia out of our territory,” Zelensky alleges.. Your third priority for defense is “artillery, artillery, artillery”. To this recurring request, Stoltenberg has responded that NATO is working to increase production, with contracts worth 2.4 billion euros, of which 1 billion have already been signed for projectiles of very specific calibers.

Three European countries have committed to delivering more than 50 F-16 fighters, but kyiv needs more and as soon as possible. Last week, in Granada, a few other European partners, including Spain, committed to supplying more weapons or defensive systems, such as the six Hawk launchers that our country has promised to send as soon as possible.. “Putin is preparing to use winter as a weapon of war, to attack the energy system, the gas infrastructure and we must avoid it,” said the Secretary General of the Alliance, also mentioning the alleged sabotage suffered by the gas pipeline that connects Estonia with Finland.

Last winter, Russia launched a bombing campaign against Ukraine's key energy infrastructure, leaving hundreds of thousands of people without access to heat, electricity or water.. And the base scenario is that the same thing is repeated now.

An eye on Israel

Alliance ministers will also keep an eye on Gaza. The president of the European Commission, Ursula von der Leyen, reiterated this Wednesday that the Hamas attack over the weekend, which has so far left more than 1,200 Israeli dead, almost all of them civilians, is “an act of war”, and that Israel has the right to defend itself.

Among the Atlantic allies, the positions reflect a wide range of nuances, from the United States, Hungary and Poland with total support for Tel Aviv to the Turkish position, changing depending on the moment.. “Tomorrow the Israeli Defense Minister, Gallant, will also inform us about the situation. Allies condemned horrific terrorist attacks on innocent civilians in Israel over the weekend. And we await the information from the minister with interest,” Stoltenberg simply said.. The country's Foreign Minister, Eli Cohen, refused to participate in the same way yesterday in the meeting of EU ministers, but the NATO framework includes the US, which changes everything.

Zelensky, aware that a shift in international attention to the war in Gaza could jeopardize supplies and aid to his country, has come for it in person.. He knows that the highest possible profile is needed, and after having dismissed his head of Defense a few weeks ago, there is no one better than himself to convey the urgency of the situation.

That is why he has also compared the situation in both places, the Russian front and the Gaza front, urging Western leaders to go to Israel to show their support in person, just as they have done for the last year and a half in Ukraine.

Hernández de Cos' warning: salaries will not recover the lost purchasing power at least until 2026

Spanish salaries will not recover, at least until 2026, all of the purchasing power they lost during the past year, a year in which inflation shot up to an average of 8.4% and salary increases were practically nowhere to be found. case, at that level. This is the opinion of the governor of the Bank of Spain and member of the Governing Council of the European Central Bank (ECB), who yesterday participated in the annual meeting of the International Monetary Fund (IMF) and the World Bank in Marrakech.

“In 2025, in the euro zone as a whole, what was lost during 2022 will have been recovered, but in Spain that recovery will not yet be complete,” Hernández de Cos confirmed to this newspaper after speaking in a massive session.. It was one of the appearances that attracted the most attention of the day, the room was small and there was even an unusual and striking request for photographs by some of the attendees, a sign of the respect and influence of which the governor of the Bank of Spain enjoys in the European and global economic sphere.

Hernández de Cos explained that this recovery of purchasing power will occur, first, because salaries will be “more dynamic.”. In parallel, there will be a gain in productivity because companies are not laying off their workers even though there is a certain drop in their activity.. The reason is that they think that this stoppage will be momentary and when the workload returns to its normal level, something that will likely happen next year, they will already have the necessary workforce and will not have to hire. The result: “Productivity will come ahead of employment.”

Furthermore, his estimate is that inflation will be reduced to levels close to 2%, and to this the head of the BdE added the business margins, which will also favor the process.. With all this combination of factors, Hernández de Cos highlighted that date of 2025 as the moment when the catch up will occur in the euro area. In Spain, on the other hand, we will still have to wait three years to reach that point.

The governor also analyzed the possible monetary policy measures that the ECB will take in the coming months in its fight against inflation.. “Today I can be even more confident that the current level, if maintained for a long enough period, will be sufficient,” he said.. That is, it considers that no further interest rate increases will be necessary.. Although this assessment, he added, is “conditioned by the information currently available”. “Uncertainty is very high and it cannot be ruled out that new disturbances may occur to which we would have to respond,” he warned.

Hernández de Cos's intervention occurred on the same day that the first vice president of the Government, Nadia Calviño, held a meeting with the Spanish media present at the IMF week. The Minister of Economy, in addition to expressing her concern about a possible escalation of violence in Gaza that adds uncertainty at a time of global economic slowdown, wanted to highlight Spain's growth figures.

The Vice President of the Government, Nadia Calviño, talks with the Managing Director of the IMF, Kristalina Georgieva. EFE

The Fund has confirmed this week that the Spanish economy will grow the most within developed countries. No other country will match the 2.5% rebound estimated for this year or the 1.7% projected for 2024. But this second figure is, at the same time, three tenths lower than what the IMF estimated in July. In other words: that the slowdown that is looming over the world economy will also affect Spain.

The organization warns that global growth prospects are the worst in “decades” and that the international economy “is limping, not running.”. “More than 80% of economies have experienced a slowdown in their growth prospects compared to 15 years ago,” added the organization headed by Kristalina Georgieva.. The Vice President of the Government, however, insisted that Spain is even recovering “the trend it had before the great financial crisis”, and that in the coming years it will “converge” with developed countries and those with higher incomes.

Regarding his objective of presiding over the European Investment Bank (EIB), he stated that there is no news or meeting planned, but that his candidacy is “firm.”. And regarding the anti-inflation measures that expire at the end of the year, the vice president pointed out that no decision has yet been made.. Which will be taken during the process of preparing the General State Budgets (PGE) for 2024, a document that the Ministry of Finance is sure of being able to present in the first weeks of January despite the fact that, for now, the acting president, Pedro Sánchez does not even have enough support to carry out his investiture.

The IMF, however, considers that it is essential that these actions are not renewed beyond December 31, which is the date on which they expire.. The organization estimated, also this Wednesday, that Spain's deficit will be 3.9% this year and 3% next year. Until now, the agency's figures were 4.5% and 3.5%, respectively. That is, there is a reduction of six tenths this year and five tenths for the next, and in this process the review of growth carried out by the National Institute of Statistics (INE) has been fundamental.

This means, in any case, that the IMF endorses the promise that the Government made to Brussels, by which it would reduce its deficit to 3% next year.. And not only that, but it would meet the limit of those same three points of GDP that are established in the fiscal rules that will be active again from January, so that Spain would not be forced to be under the tutelage of the EU. to reduce its deficit. But to do so, the organization assumes that these actions against the price crisis will not go beyond the end of 2023.. And, furthermore, the Fund anticipates that in 2025 inflation will rise again, up to 3.4%, and will remain there in the medium term, so additional actions will be necessary to curb the budgetary deviation.

The debt estimate is also lowered since, with the same level of debt and a higher GDP as a result of the aforementioned Statistics review, the relative data is logically reduced. Thus, public liabilities will be 107% this year and 104.7% next year.. The figures so far pointed to 110% and 108%.