Canary Islands government enters critical negotiations with Spanish state

The Government of the Canary Islands is entering a critical 11-day period to advance key negotiations with the Spanish central government before the end of the current legislature. Primary objectives include the ‘Canary Islands Decree’ (a package of urgent measures for the islands), a new regional financing system, and the implementation of the European Pact on Migration and Asylum.

Regarding the new financing model, the regional government has stated it will support the change only if two conditions are met: the protection of the Economic and Fiscal Regime (REF) and the addition of 1,300 million euros in funding. A decisive meeting of the Council of Fiscal and Financial Policy (CPFF) is scheduled for September 4, which will serve as a measure of political support for the proposal. While the regional government's position remains firm, there is uncertainty regarding the attendance of Finance Minister Matilde Asián at the upcoming vote.