SPAIN: BETTER HE BEGINS TO MEDITATE TODAY FOR NOT COMPLAINING ON MONDAY 21

You know that the Government's President, Mariano Rajoy, and the whole PP has trusted its possibilities to continue governing Spain to its great action for the economic recovery. Awaiting the verdict of the Spaniards the 20-D, the international organisms have not given him the blessing that looked for. After the touch of attention of the European Commission, the IMF suggests that the current economic improvement largely owes herself to the favorable external conditions that crawl to some figures of the Spanish macroeconomics but that it doesn't end up activating it at general level. 

The rhythm of the reformations has been braked a lot in the second half of the legislature. So much so that the IMF considers to Spain like country example where the political scenario becomes a "risk" for the loss of interest to continue with the adjustments. I would say that partly they are right, but the problem is that they judge this fact as abnormal when the Spaniards know that it is always same the governments from Spain start up with force their legislatures, but alone to destroy and to change that he made the predecessor once gotten the government that governs doesn't know very well that to make and he stops or he gets lost in unconscious actions. 

The high officials of the bottom are the so much of the last surveys in Spain. For that reason, they look with certain concern the ecosystem pre electoral, since they fear that the urns can bring a Government with difficulties to continue with the sheer path of the reformations. The same sources underline that they don't want to be "too negative" with Spain, due to the visible improvement that it has gotten in the last period, with a growth among the highest in Europe and an unemployment that it falls. 

The institution predicted in the month of July that the Spanish economy would be the one that more growth would register this year among the advanced countries, with 3,1%. however, although the IMF indicates that some reformations have been able to bring benefits, the high representatives point to that the recovery has ridden mainly on the measures of the BCE (mainly the purchase of funds), the fall of the types of interest and the cheap petroleum. 

The influence of these external factors is so significant in the case of the Spanish economy that they wonder from the bottom if in a different environment our country could have gotten similar or at least similar registrations. Among the recommendations that it included the bottom last summer to reduce the high unemployment level in Spain, one of their main concerns, the reduction of taxes is included for the recruiting of people fewer qualified, to improve the active politicians of employment and the placement services, or the call to the moderation salaried in the companies, I would say that alone this last one has been made and it is more, it has been made by obligation because there is no way to lift the consumption and the productivity and the alone companies have as resource reducing wages to maintain some costs that every time is more difficult of covering. 

 

The doubts of the bottom on the true magnitude of the Spanish adjustment already outside sink to the warnings that it takes giving the European Commission to Madrid in these last weeks, with occasion of their verdict on the Spanish budget for 2016, their report on the macroeconomic indicators or the last revision after the rescue to the financial sector. Brussels and Washington point to the same root: Spain has not carried out the enough structural effort in the adjustments and reformations, what has still been reflected in "An indebtedness that doesn't stop of ascending, an unemployment in levels stratospheric and a cluster of macroeconomic and structural imbalances that illustrate the long journey that the Spanish economy has left to clean up, beyond the figure of current growth at the end “. 

The Spanish case exemplifies the exhaustion reformer that the IMF also detects in other European partners, and that it is one of the main risks that detects for the UE in the horizon. This is as certain as when they point out that the first years of Spanish recovery were not more than the inertia of the world economy that I crawl to the economy of the UE and with her to the Spaniard. For the same reason now when every time is already more undoubtedly the UE it doesn't start up that has been taken down of the influential economic markets in today's world, (Asia pacifies, China and the USA) all the European economies especially the des industrializes like Spain Greece and Portugal are falling to the well of the crisis another time.