At Davos, Spanish Prime Minister Pedro Sánchez articulated his vision for a united Europe, underscoring his country’s economic resilience and commitment to democracy and environmental sustainability. He also emphasized support for Ukraine and advocated the creation of a federal European Union.
advertisementSpanish Prime Minister Pedro Sánchez recently delivered an important speech at the Davos World Economic Forum, defending environmental and social well-being and underscoring Spain’s commitment to a united and resilient Europe.
Here we summarize his most important economic points.
Spain’s stance on global challenges
Mr. Sánchez began his speech with a stark reminder: “The future stability of the world is being decided in Ukraine and Gaza as we speak.”
He emphasized Spain’s commitment to a rules-based international order, stressing that this sentiment reflects Spain’s deep-rooted values of democracy, openness and tolerance.
“Spain is a full democracy that not only defends the European project, but also the globalist dream that inspired the creation of the United Nations and the Bretton Woods institutions,” Sanchez said.
Sánchez advocated economic openness and international solidarity, expressed unwavering support for Ukraine against Russian President Vladimir Putin’s aggression, called for a resolution to the Israeli-Palestinian conflict, and expressed the country’s commitment to world peace and stability. I reconfirmed.
He envisioned a more integrated European Union, emphasizing the inclusion of the Western Balkans, Ukraine and Moldova into a federal Europe.
Spain’s economic resilience and prosperity
After his re-election and during Spain’s EU Presidency, Mr Sánchez highlighted achievements such as the Electricity Market Agreement, the Critical Materials Act and the Artificial Intelligence Act.
Recognizing the potential of AI and emerging technologies in addressing global challenges, he said, “AI and other candidate technologies will help us overcome challenges such as aging, environmental crises, and the spread of disease. I am confident that this is the best option.” Productivity is low. ”
However, he also warned against overlooking the threats posed by digitalization and emphasized the need for governance that prioritizes the rights of citizens over corporate profits.
Mr. Sánchez proudly reflected on the resilience of Spain’s economy, pointing to strong growth, job creation in the technology sector, and significant improvements in labor rights and poverty reduction, along with a 54% increase in the minimum wage.
Mr. Sánchez said that under his leadership, Spain has created more than 2 million jobs, particularly in high-value sectors such as technology. He argued that Spain’s economic growth shows that economic competitiveness and national prosperity can coexist.
Commit to investing in renewable energy
Mr. Sánchez highlighted Spain’s commitment to environmental sustainability. “Over five years, we have reduced our consumption of natural resources by 7%, reduced emissions by 10 percentage points and increased our renewable energy production by 34%,” he said.
Spain has achieved the milestone of generating half of its electricity from renewable sources in 2023, leading the EU’s major economies in this field.
These environmental advances are fostering new industries, job creation, and competitive energy prices, disproving the idea that environmental advances impede economic competitiveness.
Mr. Sánchez acknowledged the private sector’s important role in growth and well-being, and called on businesses to contribute to social issues such as climate change, workers’ purchasing power, and defending democracy.
Criticism of neoliberal policies
Sánchez subtly contradicted Argentine President Javier Millei’s liberal views expressed at Davos.
The newly elected president criticized state intervention and urged entrepreneurs not to succumb to what he perceived as excessive and coercive powers wielded by the state, particularly regarding taxation.
advertisement“Spaniards know that neoliberal policies do not work,” he said, calling for a stronger role for the state in ensuring economic and social welfare.
“Don’t support the singular liberal postulate that depicts the state as an under-exploiting entity,” Sanchez added.
He stressed that wealth creation depends on the pillars of democracy, international order and the welfare state, and warned against purely liberal postulates.
Without these pillars, Sanchez warned, “the business model will collapse like a house in the sand.”
He advocated a balanced approach in which the state and the private sector work together for collective prosperity.
advertisement“For companies that want to generate wealth by creating real value and paying their fair share of taxes, we welcome them with open arms,” Sanchez said.