July 29, 2021

“The rulers are there to improve the lives of the people”


“I understand the reflection of investment funds, their objective is to make money. But we governors have to defend our people and our country. We have another central objective, and more in a progressive government, which is to redistribute income.” This is how the second vice president and leader of Unidos Podemos in the executive, Yolanda Díaz, responded after the meeting held in the United States by the president, Pedro Sánchez, with different investment funds with interests in Spain, as is the case of Blackstone, and who showed their fear before the leader of the PSOE for the housing law prepared by the Executive and for the labor reform, as published The country.


Sánchez sells stability in the US and "commitment" with coalition partners

Sánchez sells stability in the US and “commitment” to coalition partners

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Díaz has participated this Thursday in a conference in the framework of the El Escorial summer courses under the title Women and jobs: employment, care and social change for decent work. The leader of Unidas Podemos has attended to the media upon her arrival at the event and, asked about the messages that would have been transmitted to Sánchez at the meeting, Díaz has assured: the rights that workers have lost in my country. I am concerned about the young people who do not have a job in my country. And I am concerned about those mothers who fight every day to make ends meet and are worried about their children. ”

For Díaz, the debate that exists right now in Spain has nothing to do with the fears of the funds. “Since we are talking about investment funds, it would be interesting to talk with them about taxes. And how many taxes do they think should be levied on investment funds themselves,” he said, in a message addressed not only to funds, but also to the President of the Government himself and the socialist sector of the Executive just when the internal negotiation for the General Budgets of 2019 has been officially launched.

Last Tuesday, in a speech before the parliamentary group, Díaz he demanded precisely some Budgets “for the social majority”, asked to put at the center of the accounts the fight against inequality “to improve the lives of those below” and pointed out as fundamental the fiscal reform, which the PSOE wants to postpone: “Budgets must be that redistribute income and income. benefits of those who have more. That is why we are here, to redistribute income and wealth.

Díaz insisted this Thursday on the same idea: “We need the resources of those who have the most to be able to have quality public services.” And he has concluded by reiterating that “the funds are to make money” but “the rulers are to improve the lives of the people.”

Tour to attract investors

Pedro Sánchez has started a tour of the United States with the aim of attracting investments with a first stop with funds like Blackstone or BlackRock. Moncloa’s idea is to transfer security to the world’s main investors by taking advantage of the recovery plan, which requires private capital. In addition to this visit to New York, Sánchez will also travel to California, where the technological and audiovisual sectors are concentrated, the other pillar of a purely economic trip in which there will be no contact with the Administration of President Joe Biden.

Among the funds selected for the meetings there are some that already have significant interests in Spain, such as Blackstone, a vulture fund that controls nearly 30,000 rental homes thanks to its investment companies (Socimi), and with several open court cases.

The meeting occurs when the coalition is months behind in the approval of the housing law, in which it is being discussed among the members of the Executive whether to promote a regulation that allows lowering the prices of rents.

Others represented have been Goldman Sachs and Morgan Stanley, which in addition to moving billions as investment banks have a decisive influence with their analyzes on the situation of the economies, so they have a special relevance for the Executive in its eagerness to show the solidity of the Spanish economy.

Sánchez will have a lunch with Michael Bloomberg, who is one of the main issuers of financial information, so the intention of the president is to show solidity and clear policies so that the information received by the world’s main investors is positive and sees Spain as a suitable country to invest. He will also meet bilaterally with Larry Fink, another Wall Street tycoon, CEO of BlackRock, the world’s largest investment manager, which has stakes in a large part of Spanish listed companies, of which 18 are from the Ibex.

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