Inauguration of the 40th Cercle d’Economia Meeting 2025 | Dialogue with Pedro Sánchez.

Jaume Guardiola, President of the Cercle d’Economia
Pedro Sánchez, Prime Minister of Spain

After welcoming Prime Minister Pedro Sánchez, the President of the Generalitat, Salvador Illa, and the attendees and members of the Cercle d’Economia, Jaume Guardiola focused on the delicate global geopolitical situation and Europe’s role: “Europe must look in the mirror and decide whether to be a relevant actor capable of defending its interests or opt for a secondary role.” He highlighted two crucial European tasks: promoting an independent security and defense policy and revitalizing Europe’s economy in the face of China’s and the U.S.' growing influence.

During his speech, Pedro Sánchez addressed current issues like the government’s response to the power outage and some economic indicators, stating that “the fundamentals are solid,” with the IBEX closing April up 1.16%. He announced a public consultation on BBVA’s takeover bid for Banco Sabadell “to gather feedback from organizations, citizens, and associations.” He emphasized, “Our intention is to help companies grow, provided it serves the common interest of the country and its citizens.” He also appealed to business leaders to support a reduction in working hours, to preserve Europe’s global standing through capital and innovation.

Regarding Europe, he stated the continent is facing an unprecedented situation and decisions must be made to meet the Union’s challenges. On security, Sánchez described it as “a European public good” and pledged to reach 2% of GDP in defense, “to stand alongside the great powers and the challenges we face.” He concluded with a call to action: “Our Europe, and that of our children, must take control of its destiny and move from words to actions.”

Dialogue Between Jaume Guardiola and Pedro Sánchez

This part covered several topics:

• Autonomous financing model: Sánchez confirmed that steps are being taken to ensure “greater regional funding, not only in Catalonia.”
• U.S. administration and tariffs: The Prime Minister expressed his wish for cross-party parliamentary support to address the tariff situation caused by the U.S.
• Immigration: He defended the importance of migration, noting that in sectors like tourism, construction, and hospitality, “40–60% of the workforce is migrant.” He advocated for integration policies based on the dignity with which Spanish emigrants were welcomed post-dictatorship.
• EU enlargement: He supported an “unprecedented” expansion toward the East and the Balkans.
• EU budgets and community tax reform: He stressed the need to address the EU budget and implement fiscal reforms to tackle security, ecological transition, and social welfare challenges.
• Relationship with China: He stated Europe “needs to clarify its relationship with China,” while maintaining a strong transatlantic link with the U.S. “A good deal between the U.S. and China is good for Europe and the world,” he concluded.