Europe walks toward a new treaty based on
controlling the maximum thing possible the fiscal situation of the countries
members. But the stops Wall Street Journal, a more centralized supervision of
the European governments is "unlikely" that he makes in front of some
of the problems economic keys that affect to the Monetary Union and they mine
the trust of the investors. He believes that Spain is an example of it.
The newspaper bases its argument on the opinion
of analysts that they consider that the plans to motivate to the countries
members to clip its public debt and to maintain its deficits in order, the
recent history of countries like Spain that it fulfilled the marked limits up
to 2008, ignores but it incubated serious economic weaknesses in that time,
mainly a real estate bubble. In this sense, the economist boss for Europe of
Royal Bank of Scotland, Jacques Cailloux, believes that the new plan promoted
by the French president, Nicolás Sarkozy, and the German chancellor, Angela
Merkel, is a "only answer for everything" that won't make in front of
the problems to those that face some countries, like a drop demands it interns,
a weak international competitiveness and an almost frozen bank loan.
This way, the newspaper adds that Spain, the
fourth bigger economy of the euro zone, is "a key" example.
"Until the financial crisis of 2008, it was one of the few countries of
the euro zone, as Ireland that fulfilled the Pact of Stability and Growth. From
1998, the budgetary deficit of Spain was below the limit of 3% of the
GDP", he remembers. In this line, he adds that the country registered
surplus during several years and the public debt that it continues being
inferior to the European stocking, it remained below 60% of the GDP until last
year.
It is evident as always that from the
Anglo-Saxon spheres they don't know about world, neither economic neither
political history, and they manage the facts to their pleasure to say what
interests them to say it is or non objective, this case is a clear example that
has to do the situation of Spain with the control of the European deficit. You
look at gentlemen of the Wall Street Journal, less bad than in the mess of the
creation of the Spanish bubble, the roof of the deficit was completed, because
otherwise today Spain would not exist, thanks to it the debt as you points out,
it is for that reason of the most reduced in Europe in spite of the bad
economic administration of the governments of the PP that the beginning and of
the PSOE that exploded it, we have not been intervened because with all the
difficulties of the economic stop that it is suffered in Spain and in Europe
(for blame of its financial outrages) we have capacity to tolerate and to
defend our sovereign debt.
The situation in Spain doesn't have anything to
see, neither it is possible to take it as example to say that the rules of
austerity and the fixation for law of the end of deficit of the states of the
euro area, it is a bad action. I believe that the example of Spain is in fact
an example of the good thing that it is, to have had controlled the deficit and
the sovereign debt. Another thing is the private debt that this it doesn't
depend on the UE if not of the national address that should have exercised the
central Bank of Spain, which closed the eyes, supposes that for the good
political interests that the situation gave to the shift government.
As the same thing that I pass in their country
where they know much more than us about bubbles go a little and let us don't
say of deficits, they know you that his cannot control it, and their debt
cannot pay it if demands it to him the economic world, its laws regulator’s are
an I authenticate disaster, I remind them the technological bubble,
subsequently the explosion of Lehman Brothers for the subprime that we are
still paying them among all, so better they are quiet and be devoted to fix its
country, its debt, its budgetary deficit, and its economy, and leave us the
Europeans to make a mistake alone.
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