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Communications Act. 10 Nov 2016

Francisco González: “We need more structural reforms and more fiscal policy”

BBVA Executive Chairman Francisco González presented this afternoon in the European Parliament the book La búsqueda de Europa (The Search for Europe), published by BBVA through OpenMind, the institution's knowledge platform. During his visit to Brussels, Francisco González stressed that Europe needs more structural reforms and more fiscal policies. He also said that Spain will have a bright future if “we are capable of reaching agreements” to continue pushing reforms.

'The Search for Europe. Contrasting Approaches' collects the reflections of 23 prestigious authors regarding the present and the future of Europe and its integration project, a process that has profound implications not only for the lives of the European people, but for the planet as a whole.

This is the eighth volume of this annual series published by BBVA, aimed at addressing some of the pivotal issues of our time. This collection is part of the OpenMind project, a digital knowledge community that provides free access not only to the content of the books, but also to articles, interviews, videos and infographics, dedicated to an increasingly broader readership. The Search for Europe is available for download in Spanish and English in different electronic formats.

“The monetary policy is virtually exhausted.  Central Banks have done all they could, but they've run out of room

Speaking from Brussels, Francisco González said that, “Europe is going through a rough patch. Disaffection is mounting among European citizens, and, therefore, we need to move ahead.” BBVA’s executive chairman considers that in order to stimulate growth, Europe cannot rely on monetary policy alone any more: “The monetary policy is virtually exhausted.  Central Banks have done all they could, but they've run out of room.”

In his opinion, “now is the moment for politicians to, basically, do two things: more structural reforms and more fiscal policy. That is why we need large public infrastructure projects, and other type of investments to create jobs, which is what Europe needs. If we do so, Europe will have a bright future.”

Regarding Spain, Francisco González underscored the need to reach agreements to continue pushing reforms: “We have a new Government. I believe that we need to keep pushing the reforms, which have yielded great results so far. It is evident that we have a different parliamentary situation. We need to be able to reach these agreements. We need to talk and listen to each other to continue making headway. And if we manage to do so, Spain’s future will also be bright.”

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