Pablo Pardo | “In the 30s there was no econometrics and the economists could offer no advice on fiscal or monetary policy. In the last crisis the economists could offer ideas, say things like that, when interest rates are at zero, you have to use fiscal policy to stimulate the economy. This doesn’t mean that they listened to us. In Europe, for example, they pretty much ignored us,” explains William Nordhaus, Nobel laureate for economics in 2018.
Ana Fuentes (Strasbourg) | Member of the European Parliament from the S&D group, Miroslav Poche is also the rapporteur for the energy file, which is supposed to help reduce bills for Europeans. We spoke about targets, investment and why the emissions market does not seem to be working.
Almudena Díez | “The producer countries already impose considerable fiscal charges on the production of oil, basically because some of them live only on oil,” says Angel Durández, a member of Repsol’s Board of Directors.
When Madeleine Albright retired from the front line of politics in politics, she founded, first, an equity fund and then an equity management company and a consultant, ASG, which supports the internationalisation of US firms. But Albright has never really left the public sphere. Now she returns, at the age of 81, with a book: “Fascism: A Threat”.
Ana Fuentes | Quick and provocative, Nassim Nicholas Taleb (he insists on the presence of his second name to emphasize his Christian origins) is a machine in generating headlines. This was the Lebanese investor, resident in New York, who in 2007 developed the theory of the Black Swan, an unexpected event which changes the chain of events and which can only be rationalised after the event. Since then he has become a financial guru who dresses his ideas in striking concepts: Antifragility, pseudo stability, pseudo experts.
Ana Fuentes | “More than 80% of the global population has a mobile phone, more than can count on running water, a bathroom or electricity. We constantly generate data. But for us, as rational investors, the question is whether we are making profits from this, or whether we are just talking and beating about the bush.” concludes Zhang, who manages a fund specialising in Big Data for Rothschild, with 332 million euros under management and an annualised profit of 15.1%.
Mari Pinardo | Neinor Homes is the first housing promotor to return to the stock market 10 years after the crisis. Its CEO, Juan Velayos, recognises that many things have improved since then: Four years ago no housing was being built, and now 90,000 units are being built”. But he admits there are deep rooted problems in the sector: “Spain is seriously bad at generating supply, we are paying far more for apartments than we could do if there were transparent criteria.”
Gabriel Felbemayr, since 2010 Director of the Centre for Foreign Economy at the Ifo Institute in Múnich, explains that “the EU has a clear advantage over the US in the old economy: cars, machinery and chemicals. But the US enjoys an advantage in the so-called new economy, in digital and financial services, leisure. This is the target for the EU.”
Fernando Barciela | “While Spain today is smaller than other European countries in terms of luxury market, it is growing faster. For example we are very well placed with a hospitality and luxury gastronomy infrastructure, which has the potential to be the platform to lead in experiential luxury. Spain is fifth in the world in luxury gastronomy. We have 187 restaurants with Michelin stars”, says María Eugenia Giron, director of the IE MasterCard Premium & Prestige Observatory.
Manuel Moreno Capa | “We need to re-think what principles and values we want to manage in the banking sector, and maintain a clear philosophy. We tell our teams that they can not attain their objectives at the cost of principles. The values are most important, and the objectives have to be subordinated to the values of the entity if we want to improve the reputation and image of the banking sector,” explains Bankia’s CEO José Sevilla.