The President of the Real Academia de Ciencias Económicas y Financieras (Racef) Dr. Jaime Gil Aluja today, in the Senate proposed a new contribution of public funds in order for banks and savings banks to face up to the second wave of the lack of liquidity due to the increase in defaults and the drawing up of new plans to serve as a stimulus to small and medium sized businesses. Likewise, Gil Aluja, urged the Government to facilitate the reduction of the Spanish financial system in order for it to have a dimension that is more in line with the actual requirements of the productive system and he also made a recommendation that serious training policies are the best way for Spanish society to overcome the current cycle of change without any social fracture.

Gil Aluja presided, in conjunction with the Minister for Science and Innovation, Her Excellency Ms. Cristina Garmendia and the President of the Senate Dr. Javier Rojo, over the presentation of the Observatory for the Economic and Financial Research of the Racef. This is a scientific body which will analyse the evolution of economic and financial research in Spain and will issue an annual report in this respect. “This is an initiative that is more pertinent than ever – assured Garmendia – since it arrives at a time in which it is most necessary for us to acquire academic organisms that can aid us to draw up policies for the future, and to form a new model of open innovation and to explain the economy to society”. The Observatory, in fact, will carry out a serious follow-up of economic tendencies and forecasts and will grant an annual award to the individual or body which may have distinguished itself for work in the field of research.