During his participation in the third edition of the Mediterranean Forum, Gortázar highlighted that the financial sector is currently strong and liquid, which is positive for driving the economy. He noted that lower private leverage contributes to greater economic resilience against potential adversities.
Despite the apparent dissociation between a polarized political environment and robust economic growth in Europe, Gortázar warned that this situation is not sustainable in the medium term. He listed issues such as low productivity, high public debt and deficit, and a lack of infrastructure planning, including blackouts and housing crises.
The executive cautioned about the risks associated with massive investments in data centers and artificial intelligence, suggesting that excessive investor attention could destabilize the banking sector. He also mentioned the possibility of an economic slowdown within five years and the impacts of the real estate market.
Regarding potential cross-border mergers in Europe, Gortázar expressed skepticism, citing the absence of a true Banking Union and differing customer habits. Domestically, he praised the integration of Bankia into CaixaBank as a success and stated that the entity has already reached its appropriate size.
