EL PAÍS and the Spain-United States Chamber of Commerce host the forum 'Latin America, the United States and Spain in the global economy'

An economic forum organized by EL PAÍS and the Chamber of Commerce Spain-USA was held on Tuesday, September 20 in New York. Sponsored by BBVA, Enagas, Air Europa, Ferrovial and consulting firm PwC, the event was attended by the Minister of Economy of Spain, Luis de Guindos, who highlighted the progress made by the Spanish economy, which has stabilized and grown faster than its European partners.

"I think that, based on the data from the first half and the evolution of the third quarter, which will be very similar, we are virtually guaranteed growth of above 3%," he later told reporters. The minister spoke of how external factors can influence the performance of the Spanish economy, of the sluggish global economy and the complicated political agenda in Europe, with upcoming elections in Italy, France and Germany.

The greatest risk at this time, he said, is domestic, "We’ve been almost ten months with an interim government and this is not the ideal situation," he admitted. "I hope we can avoid a third election." The political climate, he reiterated, "doesn’t help". That’s why he stressed that it is crucial that "common sense prevail" and that a new government be formed soon. "The worst economic crises are those that stem from political crises," he said.

Juan Luis Cebrián, executive chair of PRISA and editor-in-chief of EL PAÍS, also stressed the interconnection between politics and economics. "One can’t talk about the economy without talking about politics," he said. "In Spain we are seeing a good economy but bad politics." He also referred to the situation in Latin American countries such as Brazil and Mexico. Cebrián said that there are many who consider that Spain is living through a second transition. "We are at the end of a cycle where we need to decide if we should change everything again or if we have to reform to continue with what has been done in recent decades," he said.

The forum was also attended by ministers of two of the new governments in Latin America that have generated most expectations: Argentina and Peru. They both agreed - like Guindos - that among the keys to harnessing the opportunities of political change is the transparency of managing the change.

The forum organized by EL PAÍS was aimed at examining the evolution of the global economy and its effects on the relationship between Spain and the US. Alan Solomont, president of the Spain-USA Chamber of Commerce, said that trade relations between the two countries should look to other regions of the world where opportunities have emerged and that Latin America is key. "In the twenty-first century, we must not focus only on the US economy, on Europe or Spain," he said, while noting that the region faces challenges.

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