CIP Tafalla - Conference: "The financial crisis and the capital market"

                                        Conference: The financial crisis and the capital market.

On January 26, 2022 we had the privilege of having the presence of HenriKe Galarza Prieto, professor of Applied Economics at the Public University of Navarra, with a degree in Economics and Business Administration with a specialization in Economic Growth and Development from the University of the Basque Country and a PhD from the University of Burgundy (France). 

Henrike went in depth with us into the world of finance, explaining its main characteristics and operation. 

First of all, she told us about the characteristics or pillars of finance. A surprising fact for us was that financial business has been done for more than 4000 years, therefore, finance is much older than we think. He also pointed out that finance has contributed to injustice. Banks secure their interests and in the end those who are better off are treated better and, unfortunately, those who are in more unfauvorable situations are treated worse. Trust is another of the fundamental pillars of the financial world. Without trust there is no finance, no credit.

We understood the approach to finance in a clear and simple way thanks to Enrique's close and exemplary explanation. There are lenders and borrowers. Lenders have a lot of money, they are people with more income than expenses and therefore they lend money, and to whom?... to lenders, that is, to people who have more expenses than income, in short, to indebted people who need someone to lend them money.

In 1950, finance was subject to a lot of pressure and requeriments, but from 1980 onwards, the economy was deregulated and finance was able to freely develop. Banks were no longer the only ones lending money. New ways of doing business exploded, giving rise to a financial explosion.

Once the foundations of finance had been laid, we went into the 2008 crisis, its causes and consequences and finally analyzed the social, economic and environmental situation we are leaving behind and its repercussions both for us and for future generations. He encouraged us to be critical, not to take things for granted, to investigate, to go out, to educate ourselves, to be responsible, to value and take care of our present in order to value and take care of our present for the future. 

Posted by Oiana Lesaga Bravo and Sergio Pérez Arrarás