The president of the Government, Pedro Sanchezspoke this Tuesday at the Davos Forum with a speech of economic and political content. In the economic part, the presentation to the businessmen attending the forum of the public aid plan worth more than 12,000 million euros that Spain will make available to technological multinationals and Spanish companies for the manufacture of microchips and semiconductors, with the objective of competing with the Asian industry in this matter, mainly from Taiwan.
This commitment is strategic and for the future because during the pandemic it became clear that the concentration of microchips in a few industries led to a shortage of these essential materials for the manufacture of cars or household appliances, which forced the automobile industry to be paralyzed, among others. In the morning, the Council of Ministers, chaired by Vice President Nadia Calviño, had approved the PERTE (strategic project for economic recovery and transformation) on microchips, which gave rise to Sánchez to affirm in Davos that «Spain will not lose the race”. In the afternoon, with this card in hand, he met with directors of multinational companies, such as Intel, Qualcomm, Micron and Ciscoto have a first contact in search of investments in Spain in the microchip sector.
Sánchez also took the opportunity to present a optimistic view of the Spanish economynoting that of the five largest economies in the eurozone, Spain will be the country that will grow the most this year. That is true, but it is also true that Spain has had to lower its growth forecast more than other countries and that the pre-Covid GDP will probably not be reached until the end of 2023, much later than in other economies. Likewise, the inflationwhich Sánchez equated to that of other countries in the euro zone, is actually somewhat higher. “Spain is containing the damage much better than most of the economies around us,” said the president, much more optimistic than the Spanish businessmen present at the forum. Sánchez’s satisfaction must be contrasted with the warnings that are beginning to arrive from the EU about the excessive Spanish debt, the still high unemployment -despite the 20 million employed- and the need for the pension reform to be sustainable.
In a round table after the speech, the President of the Government criticized the Vice President of the European Commission Frans Timmermans, who had praised Spain for betting on renewable energies, why it is so difficult for the EU to intervene in the European electricity market as does in the financial system. Timmermans asked for more time to reform the electricity market, when the skyrocketing price of electricity and gas show that the intervention is urgent and that the “political will” that Sánchez demanded of him is missing.
On the political level, with a forum favorable to the isolation of Vladimir Putin’s Russia, Sánchez announced that Finland and Sweden will attend the NATO summit to be held in Madrid in June, in a demonstration that what the Russian president has achieved is the opposite of what was intended: there are now more NATO and more members, as the Secretary General of the Alliance, Jens Stoltenberg, pointed out in another speech.
In the most political part of his speech, Sánchez defended democracy against totalitarianism with opportune words, saying that Putin’s invasion ends “the era of naivety.” And he avoided references to national politics, so he did not comment on the stay, turned into a lamentable spectacle, of a Juan Carlos I who has exhibited his immunity. Just as he asked him on several occasions to explain himself, now he should pronounce on why he has not done so.
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