Spanish Economist Pedro Solbes Passed Away At 80

Unfortunately, the former vice president of the Government with Zapatero and the president of FRIDE, Pedro Solbes, passed away on Saturday (March 18, 202) at the age of 80.

May he rest in peace.

He started his career in the PSOE as Secretary General of the Economy and Finance, with Miguel Boyer at the head of the ministry, in the first socialist government of democracy, and was Secretary of State for the European Communities and Minister of Agriculture.

Years later he kicked off to direct the Ministry of Economy, between 1993 and 1996, in the last term of Felipe González as president of the Government. Solbes came back to the office in 2004, with the return of the PSOE to power, when the Spanish economy was going through a pleasing moment.

The accounts were twisted in 2008, with the international financial problem and the bursting of the housing bubble. She quit in April 2009 and was succeeded by Elena Salgado, already in Zapatero‘s second legislature.

After over four decades dedicated to the Administration, he completed dissociating himself from public powers in September of the same year, when he quit the act of deputy in Congress. Although he held different positions of responsibility in stages of socialist power, he never entered the PSOE.

Zapatero picked him for the economic vice-presidency multiple months before the end of his term as European Commissioner for Economic and Monetary Affairs when the Italian Romano Prodi presided over the European Commission.

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Pedro Solbes Passed Away Following An Illness

While there are no official sources confirming this, some are spreading rumors, claiming Pedro Solbes passed away due to an illness he was suffering from recently.

At the end of his first stage as Economy Minister, in 1996, the PP government neither disqualified his management nor opposed it with serious reproaches. Maybe that is why the Government of José María Aznar took three years later the Socialist proposal to select him as European commissioner. He was one of the architects of the introduction of the euro in January 2001.

The head of the Executive between 2004 and 2011 put Solbes’ experience before the voices that predicted that the one selected to lead the Ministry of Economy would be Miguel Sebastián, leader of the president’s economic team and who ended up leading the Ministry of Industry in the second legislature.

In April 2011, Solbes entered the board of directors of Italian utility Enel, which owns Endesa, as an independent member. The same year he signed with the British bank Barclays as a director and adviser.

“I am sorry for the death of Pedro Solbes. I am very sorry personally and also for the loss of someone who had the best qualities that can be attributed to a public servant: seriousness, rigor, reliability, and honesty. Let us know how to remember him like this, let us know how to honor his memory ”, mourned ex-President Zapatero.

The current head of government, Pedro Sánchez, has remembered him as a “statesman dedicated to serving his country and defending social democratic values”. “The Federal Executive Commission of the PSOE and the Federal Committee express their regret at the death of Pedro Solbes”, the PSOE has indicated in a statement distributed this Saturday, which emphasizes “his exemplary career at the service of Spain and its institutions; Thank you for having contributed to improving the lives of all of us”.

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