“We’re taking note of this geopolitical context outside of the EU, this race for competitiveness, and we’re getting ready for it,” Cuerpo said in an interview with Bloomberg Television.
The EU faces rising tensions with its top trading partners, the US and China, amid economic recovery efforts post-inflation spike and the Ukraine war. The European Commission is preparing for a potential Trump return, unresolved steel and aluminium disputes, and new tariffs on Chinese electric vehicles following an anti-subsidies investigation.
Spain, balancing investment attraction and strategic industry protection, is set for a leadership change at the Bank of Spain. Governor Pablo Hernandez de Cos’s term ends soon, with discussions ongoing about his successor. The government may wait until after the June 9 European elections to decide, possibly leaving the position vacant temporarily. De Cos’ deputy, Margarita Delgado, could step in until her mandate ends in September.
“There are big competitors outside which are also somehow providing us with key inputs into the value chains of those very important industries,” said Spain’s minister.
“For sure I think the person who will come after Pablo, who has been an excellent governor, will keep up to the standards,” he added.
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