THE GOVERNMENT'S ECONOMIC POLITICS TAKES TO THE SPANIARDS TO THE TOTAL RUIN

The incipient economic recovery of Spain, (this that at the moment alone they come it the politicians, the banks and the rich ones), he still faces a great obstacle: the cost of the credit. In spite of the measures of the European Central Bank (BCE) and the cousin's of risk fall, the Spanish companies still pay almost three times more than the German ones for their loans, what impedes the investment and a bigger employment creation, such and like it analyzes the agency Bloomberg.  For that reason the BCE will lend up to 1 trillion to the banking and he will force her to return the money if the credit doesn't grow. 

This weeks ago has known it about mouth of Draghi, the president of the BCE already announces it but the Spanish banks don't make neither I marry, and I worry about this because I don't finish understanding what business type they make the Spanish banks, to clear part this of making money outside of our frontiers and the one of abusing of costs and commissions of bills, collections, payments, and deposits visible or to term, but this is evident that he benefits more to somebody to part of the own banks, and this fears myself it is what is passing now in Spain   

According to the adjusted data to the inflation of Bank of America Merrill Lynch, the half cost of a credit of more than 1 year it was located in 4,2% in May, near their record since the euro exists, in April it was of 4,39%. In Germany, meanwhile, the banking hardly demands 1,51% of interest to the companies. The types of interest, official price of the money in the Euro zone, is at the moment in 0,15%. 

With the expensive credit, what continue in Spain are you the give leverage. This way, the credit to non financial companies and families is falling at the moment to double speed that in 2011, when Mario Draghi charge of the European monetary authority was taken. "The banks in the periphery still have a risk of important" credit, they say the markets it is "still a little soon to say that we have overcome the credit". 

Then it is clear reading this what happens is not that the Spanish banks don't give credit or they give it expensive, but rather they don't have credo, they are the international markets those that won't facilitate it, until they have more or less for sure the credits that circulate still for the Spanish economy, be in a reasonably sure position of collection. 

Another of the added problems of this high cost of the credit, is that it reduces the benefits that it is sought to get with the increase of the managerial competitiveness that is putting under an obligation to make with the help of the salary moderation. While the real types in Spain continue high, the companies will have to win competitiveness, alone through the roads of reduction of the labor costs,  

But the problem for Spain or rather for their reactivation it is that so that a turnaround of the investment is seen (and therefore of the employment) it is key that the real types of interest are low. In Spain, the effect of the high cost of the credit makes that the companies decant to be financed alone the short term, and in a very fair quantity, of which is used very little for the investment, it simply serves this credit, for the activity characteristic of the day by day. The companies are elevating their debt to negotiate their capital instead of for long term investment plans and the costs of extra financing make more difficult to maintain the competitiveness won through the reduction of prices and costs. 

This is what there is of reality in the so cackled take off of the Spanish economy that so much seeks to make us believe from the economic ministries and the PP, but the thing doesn't go in this direction, because with these politicians what is happening is that they are not alone the foreign companies those that one gives locate, it is they are the own companies of the IBEX those that base its benefits more and more in its external activity.  

And this that would be good if represents an amplification of their benefits and operative, if stays the own one carried out in Spain, it is just the opposite in these moments, this politics of you give brutal leverage that is carrying out in Spain, he is already leaving an unemployment and an industrial and managerial capacity unrecoverable completely. 

And do I wonder again to whom it benefits this operative one? Because alone to the banks to the government and the rich ones that it is not necessary them the Spanish credit, but rather they can get it in international markets, and many later the surplus to lend it here with some benefits of 300%, this in my vocabulary is called USURY.