Presidential repoker and Sabadell's ace in the hole

It seems like it was yesterday when we were ushering in 2025, but we have already turned the page on January. The first month of the year has not disappointed and has left important headlines in the business world that will surely be slow-cooked throughout all the months we still have ahead of us.

For the first time in history, we have seen up to seven presidents of the Generalitat ---a repoker, according to Artur Mas--- participating in the closing ceremony of Pimec's 50th anniversary. Yes, half a century of business activism and "institutional loyalty" from the employers' association chaired by Antoni Cañete, who likes to bring the ball down to his feet.

So much so that he has already decided to win a second term at the head of Pimec starting in February. The menu of topics at the commemorative event, voiced by the presidents, was quite complete (relationship with the Generalitat, debureaucratization, capacity for dialogue ---social--- and strategic vision, prosperity or commitment to the right to decide, among others), although much of the spotlight was taken by the unique photograph that could be taken at the event.

The Barcelona Chamber of Commerce, Pimec, and Foment have staged their agreement for a new proposal for the Chambers Law. It has been more than a decade since we talked about chamber or chambers without law and about the chamber fees that were eliminated with the Government then presided over by José Luis Rodríguez Zapatero. Many Consellers d'Empresa have tried to reach the promised and longed-for land of the Chambers Law, but for now, no one has succeeded. We shall see. They say the devil is in the small details.

The College of Economists of Catalonia has managed to bring together three presidents of the Generalitat ---Pere Aragonès (2021-2024), Artur Mas (2010-2016) and José Montilla (2006-2010)--- in an unprecedented debate on economy and finance moderated by the dean Carlos Puig de Travy. "Without financial autonomy, there is no political autonomy," Mas assured, before reminding that the most expensive infrastructures are "those that do not exist" and that responsibilities are shared when things do not go well.

Budgets are the great Achilles' heel of many governments and the extension is their particular Trojan horse

Aragonès recalled that he called elections due to the non-approval of the budgets and warned that it can take up to 20 years between the ideation and the implementation of an infrastructure service. At the same time, Montilla insisted on the expansion of Barcelona Airport and on self-government, which "requires singular financing." In fact, budgets are the great Achilles' heel of many governments, and the extension is their particular Trojan horse. To approve them or not to approve them? This is and will be the big question, year after year.

If we want young people in politics, we have to make politics for young people, even though politics is far from fashionable

Beyond self-government, there was also time to talk about the filmThe Godfather, Ithaca or the snailsto the can. Even, to know what a president of the Generalitat does when he no longer serves as such. Mas says he acts as former president throughout the country and especially with young people; Montilla cites the Fundació Campalans or Enagás, and Aragonès details the launch of his former president's office, while also conducting doctoral research on industrial policies.

I especially take away three of his reflections on politics: "Good politics cannot solve everything, but bad politics can spoil everything"; "there is a lack of less comedy and more sincerity in politics, and politicians who only care about their acronyms are doing badly," and "meeting with groups of young people feeds my hope." I also add one more of my own: if we want young people in politics, we have to make politics for young people, even though politics is far from fashionable. Hopefully these presidential conversations will lead to more consensus, agreement and constructive dialogue between parties.

The music of the Catalunya Lidera plan sounds good, but the budgets must be approved and, even more importantly: executed.

The Catalunya Lidera plan promoted by the Government presided over by has been approved.Salvador Illa. It is expected to mobilize18,500 million euros between 2025 and 2030and 200 measures with the aim of "modernizing the Catalan economy" andto position it as a leading region in Europe, especially in infrastructure, knowledge and innovation, productivity, equal opportunities, and administrative reform. At the same time, reference is also made to progress, the resilience of the labor market, social progress, ecological transition, decarbonization, territorial structuring, and public-private collaboration as the main challenges for the country. The music sounds good, but to carry out this plan, budgets must be approved and, what is even more important: executed. Time puts all plans in their place. "The country factor will be increasingly relevant for companies," Illa predicts.

The return of Banc Sabadell's registered office to Catalonia has filled all recent economic newspaper headlines. It was the first to leave and is almost the first —with the permission of Cementos Molins— to return. Why?, many have asked. The official argument is that "the circumstances that motivated its transfer no longer exist." It is true that the political climate now is very different from that of 2017, but it is equally true that BBVA's hostile takeover bid had a lot to do with it. Returning to Plaça Sant Roc in Sabadell is a strategic decision loaded with symbolism, Catalan identity, and proximity to the institutional normality of the central government and the Generalitat. They say that the narrative must be won and, meanwhile, a substantial increase in dividends is also expected to convince shareholders. The case of CaixaBank is very different, as it has already made it very clear that its registered office remains and will remain in Valencia with "indefinite character". From Sabadell's famous ser on siguis to CaixaBank's current "we are where we need to be."

One who is no longer where he was is Marc Murtra, who has changed the presidency of Indra for the presidency of Telefónica, and this is also a strategic decision proposed by the State Society of Industrial Participations (SEPI), the industrial arm of the Spanish State, and which has had the support of CriteriaCaixa and BBVA. The until now president, José Maria Álvarez Pallete, has said goodbye saying that "once a Telefónica employee, always a Telefónica employee." The new bet focuses on semiconductors and the digital economy.

The international panorama has a name and surname: Donald Trump. The inauguration and the first days of the businessman's mandate at the head of the United States have filled all the world's headlines talking about economy, security, and national sovereignty, but especially about the deportation of immigrants or tariff policy. Experts say he is taking advantage of the noise of the first days to show off and mark a position of strength, authoritarian and protectionist. His intervention in Davos served to criticize the European Union, while praising the work of Ana Botin at the head of Banco Santander: "I know your bank very well and you have done a fantastic job." For her part, Botin blurted out that "Europe runs the risk of becoming a museum; governments have to let the private sector do its job." Not even in the best Ben Stiller movies playing a museum guard. About Trump, just add that Nobel laureate in Economics Joseph Stiglitz has already warned in a recommended interview in La Vanguardia: "We are in a new era. The United States is not yet an oligarchy, but we are on the way to becoming one."

Finally, a special mention for the businessman Joan Planes, born in Estamariu (La Seu d'Urgell) and creator of Fluidra, which is a world leader in the pool and wellness sector. We remember his words after receiving the Cecot award for personality 2024: "I have been lucky in life, and I believe that luck is also sought. I wish all of you that you can succeed as I have succeeded in life. The truth is that I am satisfied, I am calm." Rest in peace and thank you for your legacy.