25 years ago, Alicante experienced the biggest flood in its recent history. In just an hour and a half on that dreadful morning of September 30, about 160 liters per square meter of rain had fallen and the city’s basements and garages were completely flooded, with most ground-floor shops and street-level shops having the same luck. . In addition to irreparable personal damage, that water hose also affected property, vehicles, and real estate. But this event was the origin of the impressive Driving Prevention Emergency Plan, which has kept us safe so far and has made Alicante an example for dozens of Spanish cities within a few years.
By saving distances, economic crises are not much different from floods. And so we have to assume that they can hit us several times in our lifetime, that when they do happen it will require significant sacrifices, and that our emergency rooms must be good. During the great crisis that broke out in 2008, the main shareholders of Mediolanum, led by the Doris family, started a $120 million operation, preventing thousands of customers from losing up to 200 million Euros on products including Lehman Brothers bonds. million out of pocket.
Another lesson that floods and major economic crises teach us is that we need to anticipate them and be prepared for any scenario to minimize their impact. Every time it rains heavily or a crisis breaks out, we cannot allow clouds and stagnation to turn the city and our lives upside down, throwing years or even decades of tremendous effort into the sea. That’s why we need to design a long-term financial plan that will help us guide our future and the future of our families.
Now, as the drums announce a recession, we and our clients have worked for years to protect and guarantee the financing of children’s studies, the comfortable and enjoyable retirement of parents, and the care and acquisition of a home for young people. None of this should be tied to uncontrollable events such as crises. And our customers know, as always, that we will help them achieve that.