European regulation slows investment on the continent and causes much of the savings generated in the region to end up fleeing to the United States. “Regulation and European fragmentation reduce market agility,” said Tomás Muniesa, president of Caixabank, during his speech at the Cercle d’Economia Meeting, held this week in Barcelona.

It was not possible to bring positions closer between Catalonia and Galicia regarding the proposed reform of the financing system in the colloquium held this Tuesday at the Cercle d’Economia. In a forceful tone, President Salvador Illa defended that the model agreed upon between the Government and ERC reduces inequalities between communities and warned that Catalonia “is not going to ask for permission to make proposals or to lead Spain.” His counterpart in Galicia, Alfonso Rueda, denounced that the bilaterality contemplated in the new model is negative for all communities because it encourages “divide and conquer.” And he asserted that “I am not going to ask for permission either.”