Miguel Sebastián Gascón

Miguel Sebastián Gascón ( born May 13, 1957 in Madrid ) is a Spanish economist and politician of the socialist party PSOE. He was from April 2008 to December 2011 Minister for Industry, Tourism and economy in the second cabinet Zapatero.

Curriculum vitae

After studying economics at the Complutense University of Madrid and the University of Minnesota he worked in economics journals as well as Professor of Foundations of Economic Analysis at the University Complutense.

Since 1999 he has headed the research department of the Spanish bank BBVA, from where he repeatedly criticized the liberal economic policy of the Spanish government under José María Aznar and Economy Minister Rodrigo Rato. In 2003, Sebastián lost this post and was appointed instead to economic policy advisor to then opposition leader José Luis Rodríguez Zapatero.

After the electoral victory of the PSOE in the Spanish Parliament elections in 2004 Sebastián be a potential economic ministers or even as a possible new head of the Bank of Spain. Most recently, he was appointed in Präsidentialamt Head of the Trade Office and thus remained in the circle of close associates Zapatero.

On 25 October 2006 Sebastian resigned from this post and was appointed the PSOE candidate for the Madrid municipal elections in May 2007. Previously, several other party members, including former Defense Minister Jose Bono, this candidacy had rejected as a victory against the popular mayor Alberto Ruiz- Gallardón conservative (PP ) hardly seemed possible. In fact, Sebastian learned after a hapless campaign, in which he entanglement Ruiz- Gallardóns claimed, among other things, in a televised debate in a corruption scandal, to cite no evidence a heavy defeat; the PSOE lost three seats, while the PP was able to increase its absolute majority on. Then Sebastian gave up his seat on the city council and took over his professorship at the University Complutense.

After the electoral victory of the PSOE in the Spanish general elections, 2008 Miguel Sebastian was appointed Minister of Industry, Tourism and Commerce; also two of his confidants were appointed to the departments of Housing and science and innovation with Beatriz Corredor and Cristina Garmendia. Sebastian was thus as new heavyweight in the Cabinet Zapatero. However, the Ministry of Economy and Finance remained in the hands of Vice President Pedro Solbes.

Political positions

Unlike the liberal oriented economy minister Pedro Solbes Miguel Sebastián represents more Keynesian and interventionist positions. He was the initiator of before the 2008 general election announced by Zapatero -time reduction in income tax of 400 euros for all Spanish taxpayers by the downturn in economic performance after the outbreak of the international banking and real estate crisis should be opposed. In addition, Sebastián defended the strong requirements of the Spanish market supervisory authority in the attempted takeover of Endesa by E.ON energy Versorges in 2006 These editions have been criticized by liberals as protectionist.; the PP threw Sebastián claim to have exercised unlawfully pressure against the regulatory authority to prevent a takeover.