Joint meeting of the Committee on Regional Development (REGI) and Committee on Economic and Monetary Affairs (ECON),&nbsp;with ministers from Spain and Portugal in the context of the Structured Dialogue, in the EP in Brussels. Statements by Luis DE GUINDOS JURADO, Spanish Minister for Economy and Competition, Pablo ZALBA BIDEGAIN (EPP, ES), Paloma L&Oacute;PEZ BERMEJO (GUE/NGL, ES), Ernest URTASUN (Greens/ALE, ES), M&aacute;rio CENTENO, Portuguese Minister of Finance, Pervenche BER&Egrave;S (S&amp;D, FR), and Miguel VIEGAS (GUE/NGL, PT).

Brussels

EU - Spain (T)

BERÈS, Pervenche (S&D, FR)

LÓPEZ BERMEJO, Paloma (GUE/NGL, ES)

VIEGAS, Miguel (GUE/NGL, PT)

Committee on Economic and Monetary Affairs

EU - Portugal (T)

joint meeting

Committee on Regional Development

structural funds (T)

URTASUN, Ernest (Greens/EFA, ES)

DE GUINDOS JURADO, Luis (ES)

Exchange of views with Luis de GUINDOS, Spanish Minister of Economy and Competitiveness and Mário CENTENO, Portuguese Minister of Finance: extracts

Arrival of Luis de GUINDOS, Spanish Minister of Economy, shake hands with Roberto GUALTIERI, Chair of the EP ECON Committee

SOUNDBITE (Spanish), Luis DE GUINDOS JURADO, Spanish Minister for Economy and Competition, To penalize the country that has carried out the most important turn of economic growth would be the opposite of what both the European Union and the Eurozone need.

SOUNDBITE (Spanish), Luis DE GUINDOS JURADO, Spanish Minister for Economy and Competition, I believe that both the possible imposition of a fine that did not materialize, or the suspension of the structural funds, would have a demoralizing effect on a country, on the Spanish population, which has made important efforts and it's beginning to see that there is light at the end of the tunnel. I think it would be the wrong signal, I think somehow, I would not say it would be humiliating, but it would affect, as I said earlier, the mood and morale of the Spanish population. And the same exactly in the case of Portugal.

SOUNDBITE (Spanish), Pablo ZALBA BIDEGAIN (EPP, ES), I would like to ask if it is possible to further reduce the deficit below 4.6% this year and if, if it were to do so, what effects would it have on the calculation for next year.

SOUNDBITE (Spanish), Luis DE GUINDOS JURADO, Spanish Minister for Economy and Competition, The goal of 4.6% is a perfectly achievable objective, we believe that we will not have much difficulty and, logically pending budget closure, this objective is perfectly feasible and even surmountable. To be below the target this year, if this were to materialize, it would be very good to face especially the achievement of the objective of the next year, which is a target of 3.1%

SOUNDBITE (Spanish), Paloma L&#211;PEZ BERMEJO (GUE/NGL, ES), You have not said however anything from where will come the 5 500 million cuts that were discussed yesterday in the Eurogroup. Perhaps of pensions? And what will you do with the other Brussels recommendations?

SOUNDBITE (Spanish), Luis DE GUINDOS JURADO, Spanish Minister for Economy and Competition, We will have to look for those measures that allow us to provide the structural effort of 0.5% of GDP, which is about 5,000 million euros. In this, the new government is going to contact the main parties of the parliamentary arch in Spain and, logically, we will look for a set of measures that is appropriate both from the point of life of economic incentives and from the angle of equity.

SOUNDBITE (Spanish), Ernest URTASUN (Greens/ALE, ES), Minister, I have two questions. First, are you going to repeal the tax reform you did? Yes or no? Second, do you regret having lied in the campaign saying that you would lower taxes when you already had these data and knew it was impossible? Thank you very much

SOUNDBITE (Portuguese), M&#225;rio CENTENO, Portuguese Minister of Finance, On the many adverse consequences: "Politically it would be punishment at a time when Portugal is making great efforts and it would undermine investors&rsquo; confidence inside the country and outside and it would mean that some project could not be implemented, with the effects of new jobs not being created and it would make recovery more difficult."

SOUNDBITE (Portuguese), M&aacute;rio CENTENO, Portuguese Minister of Finance, Portugal is finally getting out of the excess of deficit procedures. After so much economic and social sacrifices the citizens would not understand the sanctions, not only Portuguese citizens but also other citizens in Europe who understand Europe as an area of economic cooperation, solidarity and common prosperity.

SOUNDBITE (French), Pervenche BER&#200;S (S&amp;D, FR), Given the amount of investment which is linked to the possibilities of mobilising these structural funding, do you consider that there&rsquo;s already been an impact on investors decisions in your country?

SOUNDBITE (Portuguese), M&aacute;rio CENTENO, Portuguese Minister of Finance, With reference to the importance of the funds, we cannot underestimate the importance that the funds have for the public and private sector in Portugal. Our economy is in a cycle of growth trying to get out of this extremely difficult situation and these are funds that, along with the Juncker plan, will be extremely important for our economy.

SOUNDBITE (Portuguese), Miguel VIEGAS (GUE/NGL, PT), We are totally against the possibility of suspending the funds; that would mean the recognition of a legal framework which represents an obstacle to development and the undermining of the very same meaning of cohesion, as this process is demonstrating.