THE GOVERNMENT OF THE PP, THIS HIDING ONE REMOVES OF THE SPANISH DEBT

For second time in little more than one week, the economist boss of Citigroup impacts in alerting of the situation of Spain. William Buiter highlights in a report that the risk of a restructuring of the Spanish debt is now the highest that from the explosion of the crisis and you go probable that has to appeal to the international help. 

The international markets have put to Spain in their aim point. Yesterday's day included the rumors of a presumed international help, to assure the reparation of the Spanish banking. As much the Spanish government as the community one denied these speculations, reflection in turn of the renovated climate of tension that the markets live. But apparently the markets are hitting sticks of blind. 

They don't still know very well that it happens, they know that the things go to worse in Spain, they come that the Spanish banks are no longer worth neither to buy them, they come that Repsol is about to lose YPF, they come that the ministry of economy is creating funds garbage, to be sold them to if same, because these funds were not taken out to the international market, to that market they will continue sending debt of the state, and it leaves of what they place the they became (Ispabobos) internally with the purpose of controlling to the autonomous economies.  

Tomorrow it general, the unemployment increases, the most important companies are missing no matter how much the king invites them to eat, today the government speaks of changing the tax of the same ones what took without a doubt to the desertion of many more, the deficit continues increasing, the SS has needed help to pay the pensions of February, in short, Spain collapses to a speed that sincerely was unthinkable after government's change of hardly 100 days ago. Few hours after these facts and rumors, William Buiter returns focalized its alerts in Spain. In their report it considers that the Spanish debt suffers the most critical situation from the explosion of the crisis (in spite of the descent in the cousin of risk and in the demanded interests), since it exists more risk than never of a restructuring to the Greek. 

I have already referred to the maneuvers in the darkness that the government is planning Rajoy by means of his magician minister of economy Don Luis De Guindos, I fear myself that the markets the same as me, they have discovered that Spain prepares one it removes to its internal debt that they don't guess right it is necessary to ponder if he will extend to its foreign debt, that that if it will happen it is that the Spanish GDP will fall at least he enters 5y 6 points, what means a recession to the Greek or worse style, is logical to fear that when this happens, the production and the interior consumption of Spain won't be able to not already sustain a deficit of 5.3%, he won't be able to neither with 10%, that carried the impossibility of sustaining the foreign debt and Spain will be rescued. 

The play on the part of Spain is the following one, with the (Ispabobos) like excuse forced to restructure the internal debt to which clipped forcing the unfortunate investor of the current autonomous debt substantially, to lost of I don't still know as much as it gauges, but I don't believe that it is smaller than 25%, this of course created such a wrong to be in the country that inwardly nobody already trusted of this government, and that that now is a concern it became a reality. Spain won't be been able to sustain national neither internationally. The ex of the Bank of England predicts that - Spain could enter in some variant of a program of the troika this year, as condition of more helps of the European Central Bank to the Spanish debt and/or the Spanish banking -. 

After more than one week recently it was shown worried by the risk of a default of Spain, in their last formless Buiter it points out that Spain could avoid the restructuring of its debt, but that this option would imply more "measures fiscal and structural radicals". Those which after the internal action that the government prepares, it will be impossible to carry out here no longer for what I have mentioned before, they were neither workers, neither companies, neither banks, neither anything of anything. 

The economist boss of Citigroup impacts in the excessive indebtedness that the governments crawl, the consumers, the companies and the banks, in a context, she adds, specially negative for the financial sector, as consequence of the fall in the prices of the housing. With the result that he adds that the Spanish authorities could not have enough resources appropriately" for "recapitalized the bank system. 

I don't say it because he has him mania to the current government and especially to Rajoy and De Guindos, the first one arrives late and not well prepared, to begin now to study English demonstrates that their mood is so comfortable and inactive that if it ends up losing the elections it is alone with the Galician that is good already to play the bagpipe, and the second it is still believed that this cheating poor investors that went to buy funds in Lehman Brothers. 

If with Zapatero and PSOE end the grave, the government of the PP and Rajoy will put on inside and they buried us definitively, this is already inevitably the road traced by a government that doesn't have neither he devises of what it is necessary to make, and that the worst thing is that he doesn't want that they teach him, this stops who he doesn't know us that they know that it is very Spanish.