Economic and social development as a key feature of the Spanish Presidency

Employment and Social Affairs

Estimated time of reading: ~ 2 minutes  

Among the four priorities for the Spanish presidency of the EU Council there are two issues related to the economic and social development of the bloc: reindustrialise the European Union and promote greater social and economic justice among the Continent. These are also key elements of the current Sanchez cabinet, although the snap elections called by the acting prime minister could bring at the Moncloa a new government, led by the Popular Party, with a different view on social and economic issues. 

Still, while acting prime minister Pedro Sanchez wants to push the EU towards becoming “a benchmark in the production of renewable energy, electrolysers, digital connectivity services, advanced robotics, biofertilisers and cutting-edge pharmaceutical products”, as he stated in the presentation of the Spanish presidency. Madrid aims to propose a “forward-looking, comprehensive strategy to ensure the economic security and global leadership of the EU by 2030”

The EU, according to the Spanish presidency, must work to reverse the trend of offshoring of industries in strategic sectors, in order to make the bloc more attractive to new companies and reduce the foreign vulnerabilities in areas such as energy, health, digital technologies and food. The Spanish presidency will promote the development of strategic industries and technologies in Europe, expanding and diversifying the trade relations of the EU, while also strenghtening its supply chains. 

Another relevant task for Madrid is improving the living standards of citizens in all the EU member states, adjusting the economy to a competitive and at the same time fairer one. The Spanish presidency will advocate for the establishment of common standard on corporate taxation whitin the EU, while fighting tax evasion by the multinational firms operating in the European market. Extending workers’ rights will be another essential feature of the Spanish agenda, together with the fight for adequate reform of the EU fiscal rules, as to overcome austerity.

Written by: Francesco Marino

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