Spain’s De Cos calls for greater ambition in EU fiscal reforms

Redesign of fiscal rules must be supported by wider reform of financial governance, governor says

Pablo Hernández de Cos
Pablo Hernández de Cos
Photo: Banco de España

Work to “renovate” the European Union’s fiscal framework is welcome but needs to be made more ambitious if it is to succeed, Pablo Hernández de Cos said today (February 10).

The Bank of Spain governor said the fiscal framework – currently under review by the European Commission – is fundamental to the future of the bloc. He praised many aspects of the proposed reforms.

But he also said he “firmly believes” it to be “essential” that reforms to fiscal rules are accompanied by a wider overhaul of

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