THE SPANISH SOCIETY GOES PUTTING TO SPAIN IN ITS PLACE

He wrote in the previous blog that no matter how much they disguise him the unemployment in Spain it continues stable (God willing the economy is same) but it is that it is not alone the employment is everything Spain the one that goes to less no matter how much they want to sell us that he goes to but today for example the BBVA has stopped to be a qualified bank of systemic. This to me to understand is a very good news for all, remember that a systemic bank is that that cannot break that the state has to make what is so that he doesn't fall because he understands each other that its fall not affects alone to the national bank net but to the international one so to me to understand is a weight that we have taken off of above the Spaniards because if the BBVA breaks then they will refloat it or to lose its money the shareholders and the big impostors (alone they make sure 100,000 for bill) 

He had already written other times that it was a madness that Spain has two systemic banks well the mentioned BBVE and the Santander starting from now alone we have to worry about the Santander, and this new bank consideration neither harms the BBVA in principle because the condition of systemic forced to some capital indexes that could break in many moments its commercial expansion because he lacks effective so welcome is the measure, but as always also this has a pessimistic reading that is that it is evidenced that the Spanish economy is of low, I am no longer me the one that says that the Spanish economy cannot tolerate two systemic banks the Financial has already recognized it Stability Board, in charge of coordinating the financial regulation at world level.  

Now single lack that they fuse and three or four normal Spanish banks are eliminated more so that what is us doesn't give more frights although this represents some how many dozens of more unemployed thousands, I sit down it but this is it is this way the price that we should pay to try to assure the economic stability of Spain and not to have to support a bubble of banks like that we crawl since it exploded the real estate bubble and I refer to Bankia, Popular, Sabadell, Caixabank, for example. Because the Spanish reality is that there is not economic capacity so that all the Spanish banks have business there is not so much volume of industry trade and of investments so that they can survive if it is not being invented costs by administration for the automatics cashiers etc. etc. 

The Spanish consumers against what the government says, come that the economic situation is worsening and that the future expectations are not very flattering. He comes off this way of the Indicator of Trust of the Consumer corresponding to the month of October that has just published the Center of Sociological Investigations (CIS) that is located in 99,8 points, 6,3 below the previous month. This strong descent of the index owes himself so much to the setback of the expectations (-4,7 points) like to the descent of the valuation of the current situation that almost loses eight points regarding September. 

When they are asked how its economic situation, 42% of the consumers is they assure that they arrive fair in order to month, other 12% recognizes that he must even throw of savings to be able to arrive, and 8% more he has had to get in debt to stay. Also, such and like the CIS picks up, 12% only believes that its finances have improved in the last six month. The rest, assures that it continues equally or that they have even worsened. Last week the Bank of Spain already highlighted in its economic bulletin of October the loss of the consumers' trust and also of the merchants after the summer, at the time that verified that the expense of the families had you des accelerate in the third trimester. 

According to the data of the CIS, the consumers value worse than one month ago the situation of the work market, the march of the economy in general and the situation of their homes, maybe influences in the spirit of the Spaniards the vicinity of the general elections with what supposes for the diversity of parties that they converge of restlessness it bears but the future expectations neither show off them anything flattering. The indicator shows that the expectations on the future situation of the work market 6,5 points go back, those referred to the economy in general 4,5 points, and the expectations descend on the situation of the homes they decrease in 3,2 points. In this sense, the families maintain practically same their saving possibilities, reduce their expectations lightly of buying goods of durable consumption.