• The book by José Luis Malo de Molina addresses the evolution of the Spanish economy since the approval of the constitutional text
  • The presentation of the book has had the participation of the Minister of Economy and Enterprise in office, the Governor of the Bank of Spain and the author himself
  • Participants have agreed that the democratic period has been the greatest period of prosperity and economic growth

The acting Minister of Economy and Business, Nadia Calviño, has closed the presentation of José Luis Malo de Molina's book "A macroeconomic vision of the forty years of the Constitution". The act was inaugurated by the Governor of the Bank of Spain, Pablo Hernández de Cos and has had the participation of the book's author, edited by the Ministry of Economy and Business.

All participants have agreed that the democratic period has been the greatest period of prosperity and economic growth in Spanish history. The Acting Minister of Economy and Business has affirmed that Democracy has meant, among other things, more equality, education and public health as the rights of all citizens, a complete integration of the economy in the international environment and an increase in income per capita, which has gone from € 13,000 in 1978 to € 25,000 in 2018.

Nadia Calviño has highlighted the important role that our country has to play in the construction of a stronger Economic and Monetary Union. In this sense, he affirmed that the social and political aspect of European construction can not be forgotten.

The minister has exposed the need to learn from the lessons of history and also strengthen the instruments and institutions to try to improve the diagnosis in the event of crisis. In this sense, it has placed value on the creation, in collaboration with the Bank of Spain and the CNMV, of the Macroprudential Authority that will allow to evaluate and prevent possible systemic risks for the economy.

Finally, he pointed out that we are facing a propitious moment to undertake the necessary structural reforms at both the national and community level: "the roof has to be repaired now that the sun shines". The minister said that it is important to develop policies with people in mind because "there can be no economic sustainability without social sustainability".

For his part, the Governor of the Bank of Spain stressed that "the remarkable changes that have occurred in Spain over these four decades attest to the positive economic results associated with democracies." Pablo Hernández de Cos has stressed the importance of integration in Europe in the economic success of the democratic period.

The author of the book has shared reflections on this period of history with Joaquín Estefanía. Malo de Molina has stressed that the history of the 40 years of Democracy in the Spanish economy "is a success story". Likewise, he pointed out that Europe has been the guiding thread of the institutional changes that have taken place in this period, keys to allow the liberalization, modernization and opening of the Spanish economy.

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