RAJOY SELLS US FUTURE IN THE ELECTIONS AND MOSCOVICI IT RETURNS US TO THE PAST

The European commissary of Economic and Financial Matters, Pierre Moscovici, affirmed today that the adjustments in Spain have given fruits but they continue "incomplete", I "Believe that the best thing now is to wait to the elections to continue working", the commissary said. 

We know that it is carrying out a very significant adjustment, with Spain reaching a surplus for bill current in the last years and the process of you give leverage advancing", Moscovici affirmed during the presentation of the well-known report as Mechanism of Alert. However, the adjustments continue incomplete, we see that some vulnerabilities continue due to the high level of public and private debt, so much external as internal. In spite of their recent decline, the unemployment continues at an alarming" level, he added. 

The Spanish economy accumulates macroeconomic imbalances that they need decisive political actions and that it won't be capable Spain of carrying out them, and in my opinion it won't be so much for the new government after the elections but for the own economic structure of Spain that I have always suspected that during these last 5 years the current government has been devoted alone to hide the reality that not to change it. 

We continue increasing the high levels related with the GDP of the private, public and external debt and we continue with a very high unemployment rate, above 20% official that rises to more than 24% real and the worst thing is that occupation is not believed because although the government says that new employment this word is believed it is a deceit because it is certain it is new employment but it is not that is to say more employment to the maximum thing that we arrive it is that many unemployed spend to the self-employed. 

My theory that or the UE is silly or he makes it to him for not despairing it is that it continues saying that the structural reformations carried out by the country, in particular in the labor market and of products, they have contributed to the adjustment, when increasing the competitiveness. The competitiveness is not for any structural reformation it is simply because the salaries of the workers in Spain have fallen of stocking 20% with that that everything that that is executed with a lot of manpower like they are the services that it is it that more it grows in Spain today, they leave cheaper for that reason they are more competitive but this doesn't make to the competitive country because the exercised work doesn't have a significant increase in the GDP 

Another lie is that the restructuring of the bank sector has contributed to the gradual improvement of the situation of the credit in the country. In Spain the banks continue without giving credit to the managerial initiatives and it is that here they happen two circumstances a the high delinquency that still crawls and the necessity to reduce the financial leverage of the companies, the first circumstance makes that the banks don't trust of giving credits unless they are very safe, but it is that the second make that the sure and profitable companies don't request credits to the banks to unload their debts, and this curl Spain he doesn't know how to break it. 

Anyway, the commissary Moscovici didn't want to advance if the results analyzed now will suppose some change in the process open to Spain for their macroeconomic imbalances. The European Commission (CE) he noticed today that Spain suspends half of the 14 indicators on the macroeconomic imbalances that it accumulates its economy, as the high unemployment or the wide public and private debt, for what remembered that the country will have to take “decisive actions”. 

Today's report shows that Spain continues without respecting the standards advised by Brussels as regards unemployment, public debt, and private debt, the net position of international investment and losses in the quota of market of the exports. Also, neither it fulfills two of the three new indicators introduced by the European Commission regarding the unemployment, in short to the relative to the juvenile unemployment and that of long duration. 

Moscovici also remembered that the Commission is awaiting that a new Government is formed after the elections of December 20, so that this adjustment the bills of the budget 2016 that the institution considers that it puts to the country to break risk its objectives of deficit reduction. I "believe that the best thing now is to wait to the elections and to continue working", the commissary said. 

Alone I have left to say the last sentence. That God us cripple admitted to us the Spaniards and to the next government that leaves December 20.