François Picard is pleased to welcome Gabriel Oddone, economist, professor and Uruguay's Minister of Economy and Finance. He offers a striking defence of the social democratic model at a moment when much of Latin America appears to be embracing hard-right socio-political and economic policies.
Speaking at the OECD's International Economic Forum on Latin America and the Caribbean, Oddone argues that Uruguay's commitment to social protection, fiscal responsibility and reducing inequality is not only sound policy, but also reflects a deeply rooted and broadly shared national consensus.
At a time when neighbouring Argentina is experimenting with radical market liberalisation and rightward political currents are gaining ground across the region, Oddone insists that Uruguay's path remains distinct. "We believe that social cohesion and the reduction of inequality are crucial for the country," he says, presenting welfare not as a burden but as a foundation for stability and prosperity.
All the while, he speaks highly of his neighbours, highlighting his productive and pragmatic relationships with his more right-wing counterparts.
In the broader geopolitical sphere, Uruguay's finance minister offers a more nuanced vision of the EU-Mercosur trade agreement. Oddone rejects a purely commercial interpretation, describing it instead as "a civilisational approach".
He argues that Uruguay shares with Europe a common understanding of "how to manage the economy, how to regulate the economy, how to regulate the markets, how to combine the policies between private sector and public sector". In that spirit, he contends that Uruguay's political and cultural identity remains deeply European: "Uruguay is closer to Europe than it is to the United States in that regard," he says, emphasising shared traditions of statecraft, social protection and public institutions.
