The Círculo Ecuestre is a unique club founded in 1856 by well-known representatives of the Catalan bourgeoisie. More than a century after its birth, it continues to welcome, among its 1,565 members, illustrious surnames from the business elite and Barcelona’s high society. With sagas such as the Puig, Tusquets or Raventós on its governing board and sponsored by firms such as CaixaBank, on January 26 he received Alberto Núñez Feijóo in his modernist mansion on Balmes street. “I have taken a walk along the Ramblas, I have had some anchovies, an anchovy and a bit of butifarra in La Plata. I recommend it to you”, he began his intervention with a picturesque reference that did not go unnoticed by those who are used to dining in Hofmann or Via Veneto. And your project for the autonomous community? “Have a good time,” he said. And for the economy? “With contained taxes is when more economy is generated,” he limited himself to exposing. Few concrete certainties and proposals; Doubts among those present and declared lack of connection, also the occasional one.
Núñez Feijóo was appointed president of the PP in April 2022 after the fiasco of the Casado-García Egea tandem. They were the lowest hours of the PP, but the Government of Pedro Sánchez also suffered with inflation through the roof and electricity prices skyrocketing. The irruption of the Galician politician was felt quickly. According to the 40DB barometer for El País and SER, the PP went from 21.7% in voting intentions in March to 26.4% in June. The euphoria lasted until November, but since then the balloon has only deflated. The recession predicted by the most ominous has not arrived, employment is resisting and tourism data is encouraging. The reopening of the Chinese market is the first sign of optimism proposed by an international economy marked by Ukraine. Last weekend, the latest poll lowered the PP vote to 28.7%. There is party.
“Companies have perceived this shift -explains a senior executive of a firm in the top 5 of the Ibex-. Just months ago Sánchez was considered dead and now he can win ”. The publicized photo of Davos, with the president flanked by José María Álvarez Pallete, Ana Botín or Carlos Torres, is part of this new relationship framework, far from altruism and marked by interest. Not in vain, it is difficult to find in the selective companies outside the game between regulator and regulated. Only a loose verse like the president of Iberdrola, Ignacio Sánchez Galán, allowed himself the luxury of giving Sánchez the slip in the Swiss city, with the alibi that at the same time he signed a million-dollar alliance in renewables with Norges. With the case filed against him for the Villarejo case, he must have thought that it was not a bad time to return to the chief executive the sit-in that he gave him in New York back in September 2021 and on the eve of the UN General Assembly. The president of Iberdrola, who was seeking to rebuild the relationship, was met with a slam. They were the moments of greatest bitterness in the war between the electric companies and Ribera. Even today that open wound with the sector has been partially sutured.
“I know that Alberto sees or has seen himself with the business elites,” say sources who know the Galician leader well. “Another thing is those around him,” they say. In addition to the structural weakness of the discourse, the other great criticism that these Ibex executives launch at the former president of the Xunta is the lack of an economic guru in Genoa to whom to convey their concerns. On Mariano Rajoy’s long journey through the desert towards Avenida Puerta de Hierro, his Praetorian Guard made up of Fátima Báñez, Cristóbal Montoro and Álvaro Nadal had perfectly designated roles in their relationship with corporate environments. “Today, who do you have to go see?” They ask themselves, aware that Juan Bravo, the current benchmark in the house, will hardly be Feijóo’s super minister if he governs. In addition, everyone is aware that Bravo is not part of the small circle that has accompanied Feijóo from Galicia and with which he has a direct connection. The reality is that the names that are managed to lead the economic policy of the PP, with the necessary community and international connections, are not serving in the military in Genoa and are waiting for an electoral victory to raise their hands and declare themselves available.
May, with the regional and local elections, is marked in red on everyone’s calendar. A socialist minister reflected in a low voice this week on the formidable damage inflicted on the Government by the nonsense in the management of what is known as the law of only yes is yes. At the time, he did not bite his tongue when describing the exhaustion of the coalition with Podemos and the feeling that Feijóo could win an election with the sole leitmotif of not making many mistakes. The reality, however, would force the socialists to keep their forms, at least until the formation of regional governments that will require pacts. In fact, the PP accounts only give it an absolute majority in Madrid and, hopefully, in Murcia. However, other sources close to Moncloa estimate that all the wear and tear has already been done. According to this argument, the noise generated around the Government comes from ideological conflicts, with greater or lesser social impact, but without repercussions in the pockets of voters. The economy will loosen up in 2023, but there will be no collapse that squanders Sánchez’s options. Perhaps that is why the polls do not even remotely reflect a socialist crash. Entrepreneurs also read them.
The banks, which this week called the newsrooms of the media in alarm to complain about the informative treatment of their avalanche of benefits –in their opinion published with too much typographical fanfare–, are rubbing their hands behind the scenes for record results that they do not forget , they have obtained with Sánchez in power. They are probably well worth the extra tax. In other sectors they even puff up for having avoided this additional tax, a grace granted by the Executive and which they attribute to the cultivation of the relationship with Moncloa. Also, who knows if Feijóo, whose economic project they have been waiting for months, may have more disruptive ideas that touch the nerve, such as reducing tax credits? For this reason, it is better to return to Sánchez’s fold and leave the popular leader of tapas on the Ramblas for now. At least until he defines names and proposals. They move blue and win?