 Miguel Ángel Moratinos, the former Foreign Minister of Spain. Well, thank you. Thank you for inviting me. Give me this opportunity to talk to this important issue. Let me say two preliminary remarks. Number one, that being a Spaniard, I really ask to my Latin American friends to be condescended with me because in Spain we have a long interest, moving interest. So we do with a lot of political and historical elements, but sometimes as the former, you know, colony, I mean we are not very well understood. Number one. Number two, I will try to be not ideological. I will try to identify the challenges of Latin America today. Either you are from the left or this populist on the left, on the right, and trying to be objective to identify the challenge of Latin America today. From a Spanish point of view and from an analyst international point of view. I will start by commanding the World Policy Conference to convey this Latin American debate. It was unusual. Even there is not too many people. Well, thank you for being here with us, you know. But there was a reason. Ten years ago nobody will care about Latin America. There was not in the agenda because situation was going quite well. Latin America was growing in 5% average. There was no military pooch, no military coup. There was some success story in Salvador, even at the end of the day, even in Colombia, again really I went to the democratic processes. Even after the financial crisis in Europe, in Spain, and my compatriots, they was queuing in the Brazilian consulate because Brazil was asking visa. So the new architect engineer was rushing to go to Brazil, to Peru. Going out of the crisis in Europe. I was going to a Latin America and they were asking me, oh, I was planning for a minister, you have problems. You are in a bad situation. We are now. So they didn't make headlines. But today I will give you three main headlines. Number one, a statement of the candidate of Argentina that the polls say that he's going to win the election in Argentina, Alberto Fernandez. He said, the main problem of Argentina is the hunger. Can you understand? The most important country in agricultural production cannot feed his citizens the hunger. Second headline, President Macron or President Bolsonaro, Amazon. What is going on in the environment framework? And what Amazon means is for the biodiversity for whole, of course, Brazil, but for the whole international community. And what it means for the Latin America economy, not only the Amazon, but in Bolivia, the forest, and the raw materials, the environment, the nature. Because the Latin American economy has been during the last four days or even more depending only on raw materials. Third headline, Ecuador, my friend Rosenthal mentioned. Indigenous people taking over keto capital. Who could imagine five years ago or three years ago that keto will be invaded and trying to be approved from indigenous community to try to overthrow the regime. Three headlines that reflect the three main challenges of Latin America. And I will try to be brief. Number one, the economy. Either populace on the right or populace on the left. There has been no serious economic policy in the majority of the Latin American countries. There has been a low productivity. Today the figures you mentioned, they are growing at 0.5. Even Brazil, imagine Brazil, 0.8. Argentina, 0.9. Mexico, 0. And they are producers of the most important natural resources that combine and facilitate the economy of the international trade. No fiscal reform. You know what is the pressure of fiscal reform in Latin America? The average, 10%. In Germany, 40%. Spain, 38%. And Sweden, 50%. They don't pay taxes. They have not been introduced in this fiscal reform. From the left to the Bolivarianan, whatever. To Macri or to any government had been in Latin America. So the economic reform should be addressed. Number two challenge. The environment, as I say, the Amazon is the symbol. What they are going to do with these resources? They can continue with this extractive production? I mean, in Bolivia they have lithium, they have gold, they have oil. Well, okay, it's only agricultural product, natural resources. And how they are going to maintain and satisfy the sustainability agenda? They have to address this issue. And third challenge is the political and social challenge. The most important one. And that is the reason why today we have still people in the street of Quito. There have been many success stories. But one that, of course, is not so popular is Bolivia. Then we can discuss, maybe by people around me, they were against my position. But can you rule a country? I put the example of Bolivia, where 60% of the population, 60% are indigenous. And that till 2003 and 2004 is only 15 years ago. They were not citizens. They didn't participate in the political life. They didn't vote. They were absolutely outside the political system. And Evo Morales introduced them and succeeded to get them into the new reality. And today Bolivia is growing at 4%. And we have a very nice and positive economic situation. I don't know if it's going to win the election. I don't know. So you cannot avoid to take into account the social elements of Latin American countries. With all my respect to my Brazilian friends. Of course you have an elite. You have the economic class. But if you don't address the situation in the social poor areas of Rio de Janeiro, Sao Paulo, people will revolt. People will not accept. And that is one of the main concerns. What is happening in Iphoneis in Argentina? Why after the collapse of the Kirchner? What's a disaster Kirchner? Okay, everybody knows how much problem were caused by them. Everybody was expecting that Macri will be the magic formula. Neoliberalism and Bach. And he failed again. So the three challenges have to be addressed together. The economic, the environmental, and the social and political reform. Thank you for that very forceful and clear presentation.