Spain does not reject the setting of conditions on disbursement of European Union funds to help countries recover from the coronavirus pandemic, Foreign Minister Arancha Gonzalez Laya said on Monday.
Gonzalez Laya said in an interview with Cadena SER radio that “Spain also does not have strong governance to oversee their distribution.
“Spain has clear ideas: We don’t reject conditionality. We need a basis that gives confidence to us and to our partners.”
However, EU leaders would meet again to discuss the creation of a recovery fund and the seven-year EU budget.
They are at odds over what strings to attach for countries it will benefit.
“We are at a time of great geopolitical confusion and mutation of our economies that force upon us deep structural changes,” Gonzalez added.
The 750 billion Euros proposed for the recovery fund would be raised on behalf of them all on capital markets by the EU’s executive European Commission and then funnelled mostly to hard-hit Mediterranean rim countries.
A significant part of that money would be transferred as grants and not loans.
According to the report, Northern countries led by Dutch Prime Minister Mark Rutte want to impose macroeconomic reforms on the countries receiving cash.