Irene Hernández, coordinating advisor of Ence, and advisor of Elecnor and Saint Croix explains that “In Spain and in the European Union, there are times when we are regulating too much and putting brakes on economic growth… fifteen years ago, the European economy was larger than that of the U.S. Today, the U.S. economy is one and a half times that of Europe. We are not in a position to hold ourselves back. We need to seek to provide agility to the economy; right now, there is too much regulation and too many brakes that prevent companies from developing quickly.”
Q- It feels like the regulatory processes in Spain are tedious, if not unbearable; how do you experience it?
A- In Spain and in Europe in general. Macron, upon the approval of the European regulation on Artificial Intelligence in December, said, “We can decide to regulate much faster and much stronger than our main competitors, but we will regulate things that we will no longer produce or invent, and this is never a good idea.” Regulation has to help businesses and economies, not be a brake, and in Spain and the European Union, I believe there are times when we are regulating too much and putting brakes on economic development. Europe has always been the region of well-being and the ideological engine at a global level, but we are at a moment where, to maintain leadership, we have to face a series of changes and we need to try to have a more dynamic economy.
Q- A counselor from Repsol told us that “it is not possible to decarbonize important sectors of industry and mobility without decarbonized fuels” and that Europe wants to put the cart before the horses and will need to rethink its green agenda to align it with the real possibilities of technology… What do you think?
A- There are laws in Europe that are slowing down the development of the economy. We are in a global world where we compete with all blocks, and there are a number of aspects where we either all advance together or we will be hindering our own development. An example is the regulation of Artificial Intelligence or everything that has been legislated in terms of sustainability. Clearly, we need to advance in these fields, but we must move forward together. Twenty years ago, Europe was 26% of the world’s GDP, and today it is less than 18%. Fifteen years ago, the European economy was larger than that of the United States; today, the U.S. economy is one and a half times that of Europe. We are not in a position to hold ourselves back. We need to seek to make the economy more agile; right now, there is too much regulation and too many brakes that prevent companies from developing quickly. I was very struck by Enrico Letta’s report on the future of the Single Market, in which he calls for applying a common industrial policy within Europe and promoting research and development, specifically asking to advance the integration of the single market in three key areas: energy, communications, and financial services. We need to stop competing among ourselves and move forward with common policies.
Q- How do you assess the management of European funds? Have you seen them, are you expecting them?
A- European funds seem to me to be a great opportunity for Spain in particular and for Europe in general. They can help relaunch industry, focus the economy on high value-added issues, and serve as a mechanism to incentivize companies to make those necessary investments to transform the economy. However, execution, as many people recognize, is being slow. From what I understand, in the latest calls, a change of approach is being included; instead of requiring very tight deadlines for project execution, longer deadlines are being allowed, and there is a tendency for the aid to be higher per project, so that the amount is significant and not marginal. On paper, the PERTEs are very well thought out, they make a lot of sense, they are focused precisely on the sectors to be promoted: the important thing now is that they can be put into practice and implemented in a timely manner.
