Organised by the Ministry of Justice

Spanish Confidence Summit advocates fostering reforms to boost competitiveness

News - 2017.10.3

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This level of confidence is based on the far-reaching reforms undertaken that have allowed us to recover key strengths in order to compete better, develop and attain higher levels of progress. In terms of the future, the different speakers recalled the need to address pending changes that cannot be delayed.

From a point of view of the justice system, the aim is to work towards a model with greater human and material resources, which is more efficient, flexible, digital and accessible, with updated and clear laws that are easy to understand and coherent and which facilitate the activity of entrepreneurs.

As was made clear at this Summit, the levels of confidence recovered have given us back economic, social and institutional strengths, based on the consensus provided to Spain by the 1978 Constitution as a framework for living together.

Among the institutional strengths that have provided Spain with this necessary confidence is the territorial model enshrined in our Constitution, which has been considered by the European Commission as an example of one of the most de-centralised countries in the world.

Furthermore, this has served us to more effectively combat fanatical terrorism - one of the greatest threats to democratic systems - based on the rule of law and international collaboration.

As regards economic strengths, noteworthy is the fact that at present Spain is the country to enjoy the fastest rate of growth of all the developed nations in the world, it is the fourth largest economy in the Eurozone and the 14th in the world. Similarly, our country is the most competitive tourist destination on the planet, and our exports have posted exponential growth above the European average, to place us among the 25 most attractive countries in which to invest.

In terms of social strengths, noteworthy is our ability to maintain and guarantee one of the best systems of social protection in the world, which has led Spain to have the highest life expectancy in the European Union. Moreover, the rate of job creation will mean that we will have 20 million people in work by the end of the year 2019, and thus recover the levels of employment we enjoyed before the crisis by 2020.

The Summit was inaugurated by the Speaker of the Lower House of Parliament, Ana Pastor. Subsequently, the Minister for Justice, Rafael Catalá, moderated a round table on Markets and Business which included a speech from the Chairman of BBVA, Francisco González; the Executive Chairman of Telefónica S.A., José María Álvarez-Pallete; the Chairman of IAG, Antonio Vázquez; the Vice-Chairman and CEO of Abertis, Francisco Reynés; and the CEO of Repsol, Josu Jon Imaz.

The second round table, on Legal Certainty and the Economy, was moderated by the Minister for Education, Culture and Sport and Government Spokesperson, Íñigo Méndez de Vigo, and included the participation of the member of the General Council of the Judiciary, Vicente Guilarte; the President of the Civil Division of the Supreme Court, Francisco Marín; the lawyer and partner at Cremades & Calvo-Sotelo, Javier Cremades; the Chairman of the General Council of Economists, Valentín Pich; and the Judge of Commercial Court Number 3 of Barcelona, José María Fernández Seijo.

The Minister for Foreign Affairs and Cooperation, Alfonso Dastis, moderated the round table on the International Perception of Spain, the first part of which was given over to an analysis of the Perception of the Markets by the Financial Times correspondent, Michael Stothard; and the Chief Correspondent at Bloomberg, Charles Penty. The second part, given over to the Perception of the 'Spain Brand', included the participation of the member of the Joint Parliamentary Committee on National Security Strategy of the British Parliament, Lord Daniel Brennan QC; Chief Economist and Manager of the Research Department at the Inter-American Development Bank, José Juan Ruiz; the International Editor of Corriere della Sera, Sara Gandolfi; and the Editor of Expansión, Ana Pereda.

The Vice-President of the Government and Minister for the Presidency and the Regional Administrations, Soraya Sáenz de Santamaría, brought the Summit to a close.

Non official translation