The Department of National Security (DSN) headed by General Miguel Ángel Ballesteros has sent the President of the Government, Pedro Sánchez, that it is necessary to put the batteries in the reconstruction of Ukraine. Spain has the best infrastructure and construction companies in the world. It would be unfortunate if once again we were left out of the cast of a cake. It is estimated that it will be necessary to invest 750,000 million dollars in the long term, of which half will have to be put in the short and medium term, to start up the country destroyed by the Russians.
It is, in the words of the Ukrainian president, Volodímir Zelensky, “the greatest economic project of our time in Europe”. It would be unfortunate if we were left out as we did in Iraq, under the mandate of José María Aznar, despite the compromising “photography” of the Azores.
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The war has so far cost 100,000 million euros in humanitarian, military and energy aid
In a recent report by the Garrigues law firm, a specialist in international investment advice, it is stated that the reconstruction of Ukraine is an opportunity for European businessmen and especially for Spanish ones if they know how to seize the moment.
Ukraine is a war torn country. Every month it needs 4,000 million euros to survive. Its GDP has fallen by 35% since February 24, when they were invaded by the troops commanded by Vladimir Putin. If before the conflict it was already a failed state, afterwards it is a country on the brink of the precipice. His only chance is to embrace the West and hope that one day he will be accepted into the EU as a member.
But for that to happen first, the war has to end, businesses have to start up, and foreign investors have to come back. And all of this involves rebuilding the infrastructure, housing and means of production that have been destroyed.
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It will not be easy or cheap. In this first year of conflict, it is estimated that Europe has provided Ukraine with some 50,000 million euros to finance humanitarian aid, energy, budgetary needs and military aid. The same has contributed the United States. Altogether, the war has cost us more than $100 billion, and this is only the beginning.
It’s going to take a kind of Marshall plan, like the one put in place after World War II to rebuild Europe. Immediately, the investments necessary to start Ukraine cover all sectors of the economy, highlighting: construction, energy, various infrastructures, food, information technology, pharmacy and automotive. In all of them, Spanish companies have a lot to offer for quality and price.
The problem is that the geopolitical factor weighs decisively. And there the weight of Spain is relative. Countries like the United States, the United Kingdom, Poland, Germany, France, Romania and Lithuania, among others, have expressed their willingness to help rebuild Ukrainian infrastructure. The G-7 has decided to create a platform to coordinate aid. They will be practically the same plus Ukraine, the large financial institutions and the countries that have provided the most economic aid, among whom are not the Spanish.
That is to say, the cake and so far the Spanish have not secured their place at the table, although everything will depend on how the Government manages its influence. A collection of photos of kisses and hugs will not suffice, much more is needed; For example, financing.
Who will pay?
It is estimated that the damage caused by Russia amounts to 750,000 million. Russian reserves in the EU amount to more than 300,000 million, to which must be added the confiscated assets of the oligarchs. But it will not be easy to use them without universal consensus. It is about avoiding what was done to Germany after the First World War.
