It is worth noting the channels that followed the background of the beneficial Pacts of La Moncloa. Colossal economic chaos threatened our economy, when the crisis started by the oil shock of 1973 was linked in 1977, combined, in Spain, with a serious banking crisis, necessarily accompanied by a notable industrial crisis and, subsequently, linked to the Bullish threat of wages shown in Barón’s controversy with Álvarez Rendueles, Governor of the Bank of Spain. All this was followed by a colossal increase in what Víctor Pérez Díaz called the “voice mechanisms” in the form of strikes: the 10,355,180 hours lost in 1975 due to strikes became 101,724,666 in 1976. The economic chaos was visible. What prevented it?
Suárez expanded his government with the incorporation of a notable economist, Fuentes Quintana, as vice president of Economic Affairs. Professor Fuentes, immediately, from Spanish Television and irreproachably, explained the enormous gravity of the moment, and ratified it in a perfect speech in the Legislative Chamber.
He sought the collaboration of the great economist Manuel Lagares, and the contribution of other important economists linked to political parties; These were: Mariano Rubio, Carlos Solchaga, Ernest Lluch, Tierno Galván, Sánchez Ayuso, Julio Segura, Ramón Tamames and Guillermo Piera. Nor did he neglect the union world; I remember accompanying him to a meeting with UGT leaders, in which he discussed the link of the situation and his alternatives with social security. And this impulse of the economists spread, specifically, through the Ebert Foundation, towards Germany.
For this reason, the economists of this group, in September 1977, presented the Government with a document that was basic in drafting the Pacts of the Moncloa, which on October 8 and 9 was practically completed and signed on October 25, 1977. .
But can it be imagined that the Sánchez government is now capable of mobilizing a notable group, which nevertheless exists, of Spanish economists who somehow fit in with their current government? Consequently, the memory that Sánchez has made of something incapable of imitating does not make sense. .