"It is necessary to guarantee a sound Euro that generates confidence", says Mariano Rajoy

San Fernando Royal Academy of Fine Arts, Madrid

Mariano Rajoy underlined that Economic and Monetary Union "has overcome an unprecedented crisis thanks to the joint effort made by EU institutions and Member States".

In this regard, he highlighted the decisive role played by Mario Draghi, at the helm of the European Central Bank, in overcoming the economic crisis. "The policies undertaken by the ECB in recent years have allowed confidence in a sound Euro to remain high, even at the most complicated times".

Progress on European integration

The President of the Government pointed out that Europe also needs to carry out some structural reforms because the crisis "clearly highlighted flaws in the design of the single currency". In his opinion, "it is necessary to guarantee a sound Euro, which generates confidence" because "it is only if we ensure that the monetary union functions correctly that its benefits can filter down to all our citizens".

Pool Moncloa/Diego CrespoIn this regard, Mariano Rajoy remarked that "it is key to make progress on European integration". He added that "Eurozone economies must converge further", a process that includes "strengthening the internal market", above all on Energy Union, the Digital Agenda and services, and "moving towards a true European fiscal policy" accompanied by a single monetary policy. All of this, he pointed out, must take place "with respect for the principle of subsidiarity".

The President of the Government insisted that the shared goal is to "build Europe", "not just any Europe", but rather "a more integrated, stronger, more competitive Europe, capable of generating growth, employment and well-being for its citizens".

The complicated challenges of the crisis

Mariano Rajoy stated in his speech that "the crisis raised some complicated challenges for us all", challenges that needed to be faced up to with "suitable fiscal consolidation policies" and "an ambitious policy of structural reforms". A task in which Spain has been engaged since 2012, he added.

Four years on and "Spain now heads up the table of growth and job creation in the European Union and has comfortably recovered the confidence of investors and financial markets", pointed out Mariano Rajoy.

Spain's prosperity lies in Europe

In his opinion, the path forward is clear: continue with the reforms to "consolidate economic growth and maintain the strong pace of job creation", and, above all, not overturn what has been done to date.

The President of the Government also claimed that the past, present and future prosperity of Spain is due to its participation in the European project and in having been a founding member of the Euro.

Deusto Business School, synonym of excellence

Pool Moncloa/Diego CrespoAfter congratulating Deusto Business School on its centenary, Mariano Rajoy recalled that this institution, a "synonym of excellence", has been "one of the great breeding grounds of talent", both in Spain and in Europe. He added that "the investment with the greatest return is the investment in knowledge".

The President of the Government also stressed that the "successful" path of Deusto Business School has been founded on sound principles and values and on finding a way to combine theory with practice.

He also stressed that Deusto "has offered us great business leaders and eminent academics, as well as leading public servants".

The floor was taken before the President of the Government by José María Guibert, Rector of Deusto University; Joaquín Almunia, alumni of that institution and former Vice-President of the European Commission, and Mario Draghi, President of the European Central Bank, who gave a master class on the future of Europe.