Vice President for Economic Affairs, Elena Salgado, has defended this morning the timing of the announcement to amend the Constitution to introduce a limit on the structural deficit. Speaking to the SER has said that it is a "good measure" because it builds trust. "Investors need to know that the maximum legal level of Spain's commitment to assume the debt commitments," he explained. However, last week, when the president
The reform of the Constitution include provisions to allow more flexibility for spending limit, "in the case of a serious or catastrophic situation" can settle the budget deficit, something that is not under the current law stability, Salgado explained. "Every year we have to determine where the economic cycle we are. If we are at a low point in the economic cycle we have a deficit and not otherwise," the minister brought forward. which has warned that although in exceptional circumstances be allowed to liquidate the deficit budget year, the constitutional amendment to adopt policies to require "extend it." The minister explained that the measure will apply in 2018 because "that's when it will the situation of structural balance. " Now, he says, "part of a very serious situation and the limit would not apply.Salgado has tried to refute the claim that yesterday became the leader of the opposition, , yesterday claims the authorship of the reform to remember that it was he who first proposed constitutionally limit the spending ceiling. "The initiative Rajoy was already contained in the Stability Law," stressed Salgado has emphasized that when the popular leader announced its proposal in June 2010 made no reference to "structural deficit" that is what is going to pick the reform of the Constitution. The vice president recalled that since then efforts have varied Rajoy "zero deficit without exception, spending ceiling ....".