The European Council meeting held on 28 and 29 of June in Brussels "has marked the correct path for tackling the crisis and has sketched out a clear route; but I also say that we have to continue to work and there is still a long way to go," stressed Mariano Rajoy.
According to the President of the Government, the 27 states launched very clear messages on key issues such as the growth pact, the sustainability of sovereign debt and greater economic, fiscal and financial integration.
Each of the Member States has committed itself to making progress along the path of fiscal consolidation and promoting the structural reforms needed to boost the competitiveness of our economies and tackle internal imbalances.
Defending the euro
In the opinion of the President of the Government, this European Council has given a "clear and robust" response to the main common goal of the Member States: the "irreversibility of the common currency", while launching an "unambiguous political signal" in this direction. That is why he considers that the European project is today "stronger and more credible".
Mariano Rajoy also cited some important decisions taken at this Council meeting. They include: agreeing that the debt of the instrument used to recapitalise the Spanish banks should not have priority over other debt; making progress on the direct recapitalisation of banks; and sending a clear message on activity in secondary markets.
Mariano Rajoy insisted that the Spanish Government "is committed to making progress towards fiscal consolidation and healthy public accounts. We are also going to continue to make the reforms necessary to modernise our economy, as a springboard to growth and job creation." That, he insisted, is "a commitment to our partners, but above all a profound conviction as to what has to be done to improve the current situation."
"My peace of mind is a result of the Government knowing what it has to do," he explained. "The key is to sketch out the way forward and know you have to go down that path."