THE MARKETS INSIST THE ECONOMY OF THE UE IT IMPROVES… NOT YOU WHERE

Although it is difficult to believe it, they say that the perspectives of the Eurozone are improving. The investors that gave for fact that the growth of the countries of the unique currency was frozen should begin to reconsider the things. The main reason for the hope is that the credit cycle of the Eurozone is finally changing.  

According to the figures of the published credit on Tuesday for the European Central Bank, the credits have increased again. Adjusted to the sales of loans and the accumulate, the credits to the private sector 0,5% increase in January in front of the same month of the previous year. The credit to the companies continues falling in annual terms, although to a very inferior rhythm, and the loans to homes have begun to recover. According to the last polls, the banks are more willing to grant credits and the borrowers more willing to increase their level of indebtedness. 

For if it was little, the call monetary attaché M1 that measures the money in circulation and the deposits to one day, was 9% superior in January, the rhythm of quicker growth that registers from 2011. This fact has always been a good indication of acceleration of the economic growth. But at the moment the key resides in the consumers, not in the companies and the truth that the consumers fed up with so much retention take advantage of the discounts I don't find a good recovery sign.  

The trust of the consumers has reached the maximum point of the last eight years, according to a study of the European Commission. Even in France and Italy, where the economic growth had stagnated, the consumers have increased its activity. In Germany, the internal demand is now the main motor of growth: the expense of the homes increased 0,8% in the fourth trimester in comparison with the third and un1,7 annual% but they will tell me you that I am negative anything of that the data are data but there is convenient to put it in context and in Christmas in Germany expend more.  

These data help to give some better expectations, since the labor market German is very adjusted, more positive data are not discarded: the growth of the revenues of the homes in 2015 it could reach 3,5%, the best fact from 1991, anyway, it doesn't mean that all the data of the Eurozone are so flattering. The index of unemployment of the UE is located in 11,4%, and the economies of the south of Europe continue paying the consequences of years of recession and adjustments. The recovery is irregular and they have increased the political risks a lot. 

But, for the investors, the expectations are the most important thing. The index Citigroup Economic Surprise has passed to positive territory, of what is deduced that the economic experts had been shown very pessimistic. According to the perspectives of the IMF, the growth for 2015 would not overcome 1,2%. But, before the fall of the prices of the raw one, the monetary politics’ relaxation and the recovery of the credit conditions, everything points to that the economy of the Eurozone will begin to grow or, as minimum, it will afford us important frights. 

The problem nevertheless is that this economic vision doesn't keep that is to say in mind the possible worsening of the economic situation politician of the south of the UE the problems of Greece they are very far from improving, the hard manifestations in the streets of Athens to alone a month of government's change, as spectacular as the one that there has happened, they are a bad omen, but it is that he lacks to see that it passed in Spain that begins in May its electoral year. 

Of entrance and I eat example the recently finished debate of the State of the Nation in Spain it has been more a previous political meeting to the elections that not a future debate by no means a real review of the past the press doesn't come to an agreement on what political leader I win the debate, and the most problematic thing is that if it agrees the Spanish society in that the leader that I win it is Pablo Iglesisas the first secretary of PODEMOS and future candidate to the presidency of Spain. 

This politician the most astonishing thing is that it didn't attend the debate because today is not so a deputy in Spain I carry out an act in a theater of Madrid 24 hours after the debate of the Spanish congress and I throw its vision and its plans for the new state of the nation as PODEMOS because well this it is according to the Spanish society the leader that convinced and I win the debate. But clearing is neither we know that it programs economic he has neither we know nothing else that we didn't know the political direction he is already defined more and more toward a new left that is in yes a neo political communism.