Pablo Hernández de Cos: Multilateralism and globalisation reforms

Presentation by Mr Pablo Hernández de Cos, Governor of the Bank of Spain and Chair of the Basel Committee on Banking Supervision, of the book "Excesos: Amenazas a la prosperidad global", by Professor Emilio Ontiveros, Madrid, 28 January 2020.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Good evening Honourable Minister and Authorities, ladies and gentlemen.

It is an honour to be here at the presentation of Professor Emilio Ontiveros's book Excesos: Amenazas a la prosperidad global (Excesses: Threats to global prosperity), and to share some thoughts with you on the subjects it addresses.

As has habitually been the case in his extensive academic and popularised work, Professor Ontiveros hits the nail on the head in his analysis of one of the main challenges posed by the current international landscape: the characterisation of and the risks associated with the economic and financial globalisation witnessed in recent decades. His work is immense, as it requires deep-seated knowledge of the wealth of interrelated factors that shape the highly complex and changing economic, political and social situation at present. As is also habitual for the author, he is successful in his venture: he presents a profound and well-structured analysis of the issue. And one that is, moreover, reader-friendly and comprehensible. Our congratulations, Emilio.