The hottest Spanish economy is on the right track

At the invitation of Foreign Minister Wangyi, Spanish Minister of foreign affairs and cooperation macallo paid an official visit to China from June 24 to 28. During this period, macallo was in a full schedule. At the invitation of Foreign Minister Wangyi, Spanish Minister of foreign affairs and cooperation macallo paid an official visit to China from June 24 to 28. During this period, With a full schedule, macallo received an exclusive interview with China business at the Spanish Embassy in Beijing (on the 26th) to interpret the Spanish economy, the establishment of the European Banking Union, the Sino European Photovoltaic trade dispute, and the prospects for investment cooperation between Chinese and western enterprises

if the Spanish's career 500 years ago was to discover America, then our career now is to integrate into Asia. Jos manuelgarc a-margallo, Minister of foreign affairs and cooperation of Spain, has a clear purpose in his visit to China: to demonstrate the effectiveness of Spanish economic reform, to explore closer economic relations between China and the west, and to promote more possibilities for cooperation between Chinese and western enterprises in third countries

the Spanish economy is on the right track in the radical reform, and macallo also hopes that the Spanish government can start to create jobs next year, which is the main goal of this Spanish government

at the same time, macallo, who has been immersed in European politics for many years, knows EU politics like the palm of his hand. As for the European Banking Union, which has been slowly promoted by the European Union at present, he said that it is likely to reach an agreement before the recess of the current European Parliament in June 2014. However, he did not agree with the German position that the banking union could be established without amending the EU treaty

the European Banking Union does not need to change the EU treaty

First Finance and Economics: in the midst of the European debt crisis, the euro zone is also being integrated. Why do you think the negotiation of the European Banking union is so slow

macallo: the European Union is an alliance of 28 countries, and it takes time for 28 countries to reach a consensus, especially on the problem of difficult fixed asset investment of no less than 2billion yuan, such as the European Banking Union

in Spain's view, the establishment of the European Banking union requires the following conditions:

first, a single system that integrates all European banks to operate in the internal market; Second, a single regulatory body; Third, a common crisis response system; Fourth, the two funds (one of which is the European stability fund) can finance themselves to ensure that if there is a new crisis, European taxpayers will not pay for it

this means that no matter what the original nationality of these banks is, they should follow the same way. At the same time, it can also cut off the link between sovereign debt and corporate debt, and ensure that all European companies pay the same interest rate. Now Spanish enterprises have to pay an interest rate of 4.6%, but German enterprises only need to pay 1.30%, which is an absolute distortion of the internal market principle. You can see that some countries make profits in it, but they only make profits in the short term. In the long run, we need to quickly promote the European Banking Union and amend the internal market

: you mentioned the need for all banks to be supervised, but there are obvious differences within the EU on this matter. Germany believes that the European Central Bank is unable to supervise all banks, while France holds another view that the Dragon Boat Festival holiday expressway is not free. What is Spain's position

macallo: Spain believes that the scope of banks under supervision should at least include all European banks operating in the internal market when the piston moves. This means that banks with operations in 28 countries must have unified regulators and regulatory rules

: before the adjournment of the current European Parliament, can the EU reach an agreement on the European Banking Union

macallo: EU countries must reach an agreement, but under the current circumstances, we need to wait for the German general election in September this year, but I hope this agreement can be reached before the recess of the current European Parliament in June 2014

: Germany has made it clear that under the current treaty, the European Commission has no right to operate the authoritative role in the European Banking Union. If more authority is needed, it needs to consider revising the EU treaty. If constitutional amendment is involved, will the establishment of the European Banking union be more distant

macallo: I don't think the establishment of the European Banking union needs to change the EU treaty. I discussed this issue in the European Parliament in 2010. I believe that if European bonds are issued, the EU treaty may need to be changed. However, if the EU treaty is amended to establish a European Banking Union, I do not agree

hope that Spain will resume employment growth in 2014

: according to the prediction of the Spanish Central Bank, the Spanish economy will begin to grow in the third quarter of this year. What are the main objectives of the current Spanish economic reform

macallo: there is some good news at present. Our economy has recovered in terms of productivity and national competitiveness. Spain's balance of payments is in surplus, which gives us the ability to deal with public debt. We hope to see the Spanish economy grow in the last quarter of this year, and we hope to reduce the unemployment rate from next year, which is also the main goal of the Spanish government

: since the European debt crisis, Spain has carried out a series of impressive reforms in the domestic labor market and financial market. How should we further adhere to the reform and consolidate the achievements of the reform

macallo: the Spanish government is still carrying out fiscal adjustment policies and will continue to promote reforms in the financial sector to ensure that small and medium-sized enterprises can have sufficient credit lines to operate. We also need to maintain the sustainable development of the pension system. At the same time, we are facing two major reforms: the first is in the field of energy, and the second is in the field of finance. In addition, we have also begun to operate on the stagnant tax system since 1997

the Sino EU trade dispute should be resolved as soon as possible

: in the Sino EU photovoltaic anti-dumping case, European countries have different positions. From the standpoint of Spain, how do you view the trade dispute between China and Europe here? What is your judgment on the final settlement of the Sino EU photovoltaic anti-dumping case

macallo: This is a normal trade dispute. If my judgment is correct, the trade disputes between China and Europe will be resolved. I mean not only the anti-dumping of photovoltaic products from Europe against China, but also the double anti-dumping investigation launched by China against imported wine from Europe. Spain is the second largest exporter of wine in the world. In any case, I think the last meeting between China and the EU has a good result, and the problem should be solved quickly

in terms of solar panels, the Spanish industry has not been affected, so we have not participated in this survey. We are interested in cheap solar panels. Therefore, China's photovoltaic products are not a problem for Spain at all

: do you think double anti investigation is a good way to protect the interests of European enterprises? In your opinion, what are the strategies that can promote the balanced development of China EU trade and investment

macallo: Spain has always been very active in promoting bilateral trade and investment agreements, which is beneficial to all EU countries. Some countries may think that such negotiations with China will have security concerns, but Spain takes a positive attitude towards this and hopes that such an agreement can be reached between China and Europe

: last Wednesday morning, you had a working breakfast with the Chinese Spanish Business Association in China according to the agreement. What challenges do you think there are for the Spanish business community in China

macallo: they are very satisfied with their status in China and believe that there is a huge space in the Chinese market. However, they also face some difficulties, such as obtaining business licenses for lending in the financial industry

: where else does China and the West have cooperation space

macallo: China and Spain have developed rapidly in two-way trade and investment. It is worth mentioning that in terms of tourism, Spain is the second largest tourist destination in the world, and the number of Chinese tourists to Spain every year is not so satisfactory, so we need to make some improvements, such as improving the visa policy for Chinese tourists

at the same time, I think there is great potential for joint ventures between Chinese and Spanish enterprises. We can cooperate with Chinese enterprises in Latin America and North Africa, where Spain has long investment experience. At the same time, China can also help Spain seek business opportunities in the Asian market. After all, we entered the Asian market late, and now we need to catch up