A few months before the elections, the government’s tension extends to large multinational companies. The march of Ferrovial, one of the jewels in the crown of the Spanish economy It was interpreted by Moncloa as a personal insult to the president and an attempt to influence the election results. Despite the use of a large budget, perhaps unprecedented in the history of Spanish democracy, problems are accumulating for Pedro Sánchez. Whether or not another legislature stays in power – and we know the popular vote is random – the general idea of the end of the cycle is starting to become overwhelming in public, as its parliamentary partners have already detected. Beyond the propaganda statements, the unpatriotic accusations against Ferrovial underline the weakness of this government. A country with a strong and healthy economy that is attractive to international investment does not suffer from a company exit. Ferrovial’s farewell is not a sign of Sanchismo opposition Not – as we believe – but the challenge of competing in a global environment from a country that has fallen sharply for two decades and whose citizens have been significantly impoverished since the 2008 sovereign debt crisis.
The nation was not built with a so-called patriotism that constantly resorted to demagoguery rather than creating the conditions for our companies – small and large – to succeed in the international market. Wasn’t Europe just the horizon the Spaniards had dreamed of for decades? So, are the conditions and requirements of this Europeanness supposed to be that it can’t just consist of reaching out for alms in the form of help? And in any case, To whom does a company owe money, if not to its shareholders? One of the worst evils in politics, whether directed at citizens or businessmen, is nepotism. Authoritarian temptation—and favoritism is nothing more than a particularly corrupt, though mildly, form of authoritarianism—is always harmful.
Ferrovial is leaving, and perhaps in a relatively short time other companies will leave Spain in search of better access to international finance – perhaps the key factor behind Rafael del Pino’s decision – and easier listing in their main market stocks. But that’s not the question, it’s to know what current and future governments plan to do to prevent this water gap from getting wider. What measures will you take to regain Spain’s investor appeal? How will they achieve a financial, legal and macroeconomic ecosystem conducive to the good running of the economy? After all, how can the unemployment figures of our country return to normal without anyone’s disgrace?
Finally, demonizing business is sending a dire message to Europe and fueling the fears of the most competitive Spanish business community. Our country’s being a world power in the execution of public works and in the management of services – Ferrovial gets more than 80% of its revenue from abroad – should serve as a lever for growth, rather than being countless excuses to promote a political message that divides us between good and bad.