The rating agency S&P rose this Friday (20.09.2019) a step up the note of Spain to "A" from a level of "A-", highlighting the "economic resilience" of the country, despite the political stagnation when the country is heading to the fourth elections in four years. This is the second improvement in Spain's rating since March last year, but the agency said the outlook is stable.
"This improvement reflects a balanced economic growth and an improvement in the budgetary situation that have placed the ratio between government debt and GDP on a firmer downward trajectory," the agency said in a statement. S&P analysts project that in 2019 the deficit will be 2% of GDP, touching a minimum in 12 years, and that the economy is expected to grow 2.2%, with a slowdown by 2022. These forecasts coincide with government projections for the growth of 2019, after which in 2018 the economy of the country expanded 2.4%.
"Despite the political impasse, Spain's GDP growth should continue to exceed the euro zone average in 2019-2022," the agency said. S&P said there are risks in the picture, after the political parties failed to form a government after last April's elections and the country is heading for its fourth elections in four years.
The agency projected that the country will close the year with 13% unemployment, a level lower than the maximum it had during the crisis of 26.9%. "We anticipate that political tensions in Catalonia are going to persist," said the agency, which admits that Spain's rating could rise again if budget consolidation accelerates beyond expectations, with a drop in the proportion of debt with with respect to the GDP of 80%. (afp)
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The European Odyssey of Puigdemont
Flight to Brussels
After a convulsive month of October in Catalonia and before the perspective of the action of the Spanish Justice against him, Puigdemont fled to Brussels. The Government of then President Mariano Rajoy had just dismissed him as president of Catalonia and the Prosecutor's Office had complained against him for rebellion, sedition and embezzlement.
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The European Odyssey of Puigdemont
The internationalization of the Catalan conflict
In addition to eluding the actions of the Spanish Justice (which other members of his former Government did face), Puigdemont says he wants to "internationalize" the Catalan conflict. That is, advocate for the cause of Catalan independence and join these international forces.
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The European Odyssey of Puigdemont
Meanwhile, in Spain, the jail …
Shortly after the start of the European tour of Puigdemont, the former Catalan vice-president Oriol Junqueras and eight ex-counselors of the Catalan government enter prison. Judge Carmen Lamela decreed her unconditional prison for high risk of criminal repetition and escape.
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The European Odyssey of Puigdemont
Euroorder of detention … and withdrawal of the Euroorder
The Spanish Justice issues a Euroorder of detention against Puigdemont and four of his former fleeing counselors, who surrender to the Belgian Justice. But the crime of rebellion does not exist in that country, so they cannot be deported for that crime. The Spanish judge withdraws the European arrest warrant. This prevents Puigdemont from being tried in Spain only for the crimes that Belgium recognizes.
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The European Odyssey of Puigdemont
With bad foot
His strategy of involving EU forces did not start well. During an interview, Puigdemont defined the EU as "a club of decadent, obsolescent countries, in which a few are sent, also closely linked to increasingly debatable economic interests" and "where there are several measuring rods." He even says that the Catalans "should decide if they want to belong to this EU."
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The European Odyssey of Puigdemont
From conference to conference
"Does independence still matter in 21st century Europe?" The meeting held in March 2018 in Geneva, Switzerland, is attended by the former Catalan president. Once settled in Brussels, Puigdemont makes small getaways to spread the independence story.
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The European Odyssey of Puigdemont
Visit to the Finnish Parliament
In January it was Copenhagen and in March Helsinki. Puigdemont seeks support on Nordic soil. In the picture, next to the Finnish parliamentarian Mikko Kärnä.
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The European Odyssey of Puigdemont
Detention in Germany
On March 23, Judge Pablo Llarena prosecutes 13 people for the crime of rebellion for their participation in the independence process, including Carles Puigdemont. A day later, the Supreme Court reactivates the European arrest and extradition order when Puigdemont was in Finland. He decides to return to Brussels by car, but German police stop him in his territory.
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The European Odyssey of Puigdemont
12 days in prison
Puigdemont enters the prison of Neumünster. After reviewing the Spanish Euro-order, the German Public Prosecutor asks the Schleswig-Holstein Territorial Court for extradition for crimes of rebellion and embezzlement of public funds. A few days later, the court rules out the crime of rebellion and releases the Catalan president on bail while studying the delivery for embezzlement.
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The European Odyssey of Puigdemont
I also support in Germany
Puigdemont's arrest created a huge stir in Germany. The press dedicated great space to assess the charges of the Spanish Justice against the former president. Especially the one related to the rebellion, which could have a similar in Germany. In the picture, a group of people demonstrates in Berlin for the freedom of the "Catalan political prisoners".
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The European Odyssey of Puigdemont
Excessive Expectation
On April 6, 2018, Puigdemont leaves the prison of Neumünster. Deposits a deposit of 75,000 euros and promises to reside in Germany and appear regularly before the authorities of the country. The media were expectant at their statements.
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The European Odyssey of Puigdemont
In Berlin and Hamburg
First it was in the capital of Germany. Then, for "security reasons", Puigdemont moved his residence to Hamburg. Meanwhile, the Spanish Justice tries to prove with graphic material that the crime of rebellion did occur.
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The European Odyssey of Puigdemont
Extradition yes, but only for embezzlement
In an unappealable ruling of the highest regional court of Schleswig-Holstein, on July 12, Puigdemont's delivery to Spain was approved for embezzlement, ruling out the crime of rebellion. Thus, in Spain it could only be tried for that crime. That puts him in a position of advantage over the processed independence leaders who did not flee from Spain.
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The European Odyssey of Puigdemont
Withdrawal of the arrest warrant
The Spanish Supreme Court on July 19 withdrew the euroorder against Carles Puigdemont. The Spanish Justice thus rejects its delivery to Spain only for the crime of embezzlement and not for rebellion. Puigdemont, who is currently on probation in Germany, will be released, but if he returns to Spain he would be automatically detained until the crimes are prescribed, in 20 years.
Author: María Santacecilia
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