SINDICATOS NACIONALES MATURINOGAONA - 44500 Guadalajara

The former president of Mexico, Ernesto Zedillo, assured that the world economy has not managed to get out of the 2008 crisis and ahead there are financial risks that could turn into hurricanes. "There are dark clouds that President (Ricardo) Lagos commented, but I would say that more than dark clouds, they are storms that are there and that can become hurricanes," he emphasized. When participating in the first plenary session of the Banorte National Council, Zedillo said that there are circumstances that suggest "enormous risks", such as the total breakdown of the European Monetary Union. "If the problem is limited to Europe it would be painful, but if the European Monetary Union is broken, the European common market will be destroyed, there would be a regression to an era that nobody wants to live in, it would be the beginning of the end of modern globalization," he said. Ernesto Zedillo was president of Mexico from December 1994 to December 2000. He was the first Mexican president with a PRI affiliation to cede power to another political party. The current Director of the Center for Globalization Studies and professor of economics and international politics at Yale University since 2002, assured that Mexico and Brazil need to grow at higher rates than in recent decades. "They have been improved with current rates, but we are not going to achieve convergences with developed countries and one day with Chile and we must address enormous social problems of our nations," he said.