this Congress agreed to ask this Tuesday European Central Bank (ECB) her non-binding opinion On the ‘tax’ on banking announced by Pedro Sánchez last July. spokesperson’s desk economic commissionthus, approved at the request PSOE Y United We Can ask the room desk to forward your request to the European auditor. Bank of Spain (representative of the European organization in the country), the socialist spokesperson of the commission in question, Pedro Casares, explains to this newspaper.
The monetary authority of the eurozone traditionally contrary to plans to issue such an opinion in principle against such tax. Proposed law of PSOE and United We Can Advances in the negotiation process of changes to be made by parliamentary groups for clearer vision According to close sources, it is the norm that can finally be approved before the end of the year.
In recent days, an expectation has been created. Executive to be able to accept changes It’s about the project to adapt it to the ECB’s recommendations. “Income tax banking has no negative effect from perspective financial stability. In the processing of the bill, improvements enabling us to have appropriate lienIt has sufficient collection capacity to fund all measures to support citizens,” said Nadia Calviño, vice president of economics, when asked on Thursday.
Therefore, in principle, importance of the moment That Congress requested that opinion from the ECB and the ECB published it. However, sources from the European organization confirm that the Government has informally communicated this. you shouldn’t expect change background on the ‘tax’ bill (in reality and to avoid legal pitfalls, non-tax public inheritance). Therefore, the central bank is not in a hurry to publish its assessment. “It can start to work Y wait a little To see what changes have occurred in parliamentary procedure. There is no point in giving an opinion on something that can be changed later,” they argue.
usual opposition
When the request from Congress reaches the ECB, legal departments will analyze it as the previous step of the monetary authority government council confirming your opinion, usually a written procedure and without the need for a physical meeting. The investigating authority may ask the central bank to make a decision. maturity not less than one month, except in cases of “extreme urgency” where a shorter period of time must be justified. European regulations require consultation with the European Central Bank. “appropriate stage” consulting country “to consider” opinions before adopting the new law.
The central bankers of the eurozone have been warning for several weeks, in any case. traditionally opposed to reducing taxes credit flow, make more expensive loans to companies and families, and reduce solvency assets. “It is not easy to establish an endless tax” directly or indirectly affecting to any of these channels, credit, interest rates, or banks’ resilience capacity, and therefore ECB opinion it happened normally negative About this kind of tax,” warned state governor Pablo Hernández de Cos. Bank of Spain and therefore, a member of the ECB’s governing council.
already in the studio
Similarly, Luis de Guindos, vice-president of the monetary authority, is speaking and this Monday in Madrid his institution is already “see features” of the tax that Congress has begun to process and will give an opinion on. Didn’t Spain ask?. The PP’s former Minister of Economy also hinted that he does not expect major changes to the said parliamentary procedure: opinion helps On what the government’s decisions should be from the ECB’s point of view. And later on, governments may have a different vision. We have our opinion and government will decide“.
In a speech by Sabadell, the number two member of the ECB, to the annual meeting of advisory councils, unexpected benefits It has been advanced by the executive to justify the tax. “The rate will be increased” increase profitability Number of banks that will remain below the average for other countries. But we can’t let go blinded by short-term effectsbecause liability cost (deposit and debt problems) will also increase, and as a result of monetary policy adjustment and its economic impact, increase in provisions (by the banks)” he warned.