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J. M. Nin endorses the European project at Matins Esade

"In the European construction project, the financial system must change," says the guest speaker in Matins Esade

 

Juan María Nin, a director of Societe Generale SA, chairman of several companies, and member of the Esade Foundation Board of Trustees, has expressed his support for the European project in a new session of Matins Esade. Under the title ‘Are we safe?’ he discussed the economy and finance, ethics, values, and social justice.

Juan María Nin explained that: ‘the financial system of the European project must change – and as a necessary condition for us to have large European banks we must go a step further and facilitate a guarantee fund for European deposits in a similar manner to Germany’. 

He supports Brexit and said that: ‘the European Union is first and foremost a great political project. We have been able to quickly build a European economic union and Brexit enables a political union. I believe that in scenarios of japanisation and a good revolution, European integration is vital – especially in a world of opposing blocks. However, populist stupidity could force us to sacrifice many years of progress’.

He indicated that: ‘we could enter into a synchronised deceleration of world growth at the end of this year since we are in a short cycle. We are trapped in a heterodox monetary policy that is going to be difficult to escape from – and which has turned companies and governments into zombies. This situation prevents solid economic growth’. He added that: ‘some of us believe uncertainty has grown to such a point that we have entered period of vulnerability’.

Future and fairness

Looking to the future, Juan María Nin said: ‘the future suggests that we could move from carbon to silicon because artificial intelligence is making extraordinary progress’.

During his presentation, Juan María Nin (who is also chairman of the Economic and EU Group at the Círculo de Empresarios) stressed that he believes it is essential to advance in ‘values and justice’ and we need corporate governance that educates leaders in social justice. He noted that the radical value of solidarity and social justice requires friendship and reconciliation with oneself and nature. ‘We need to train people to be competent, aware, and committed. The future is dangerous if we fail to teach values’, he concludes.

He is also the author of a book entitled (in Spanish) ‘Towards rational growth. From recession to stagnation: solutions to compete in a digital world’* and during his presentation he reviewed various media headlines and pointed to good news such as: the digital revolution; awareness of the ecological challenge; and our ability to positively manage our future by educating.

Matins Esade are moments for reflection on business – organised by Esade Alumni and held at Esade – where managers of well-known companies explain their vision for the sector and the business they manage. 

* Por un crecimiento racional: de la Gran Recesión al estancamiento: soluciones para competir en un mundo digital (Editorial Planeta)

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