Wed. Apr 24th, 2019

From Catalonia to macroeconomics

From Catalonia to macroeconomics


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MadridUpdated:

Once again, it has been open to everyone, in relation to the economic separatist waste of Catalan autonomy, the key role that the Court of Accounts (TC) has in Spain. It is significant to note that his birth took place in the middle of the Middle Ages, when a march towards responsibility that could have Juan II of Castilla to clarify to the Cortes what was behind the Castilian defeat in the battle of Aljubarrota.

At this moment, one of the greatest economic risks that threaten Spain is the public sector deficit. And one of the causes lies in the field of autonomy. The temptation of the misuse of public spending appears in that area more than once and in a very worrying way. Recently it has been pointed out - and has had political consequences - in the case of Andalusia. And now, as we have known thanks to a complete information of ABC, were the separatist approaches of Catalonia those that generated a deviation of public spending outside of reasonable objectives to try to finance the separatist project.

But this question needs to be expanded because the public sector today demands continuous effectiveness. It is not possible to forget for a moment that our public sector has an economic magnitude whose total value is around 40% of the Gross Domestic Product.

This necessarily opens a door to our Court of Auditors so that, when monitoring the consequences of public policy, raise references to the magnitudes which can be favored or disturbed.

For this, it is necessary to point out in the future the necessity of the study, by the Court of Auditors, beyond the simple budgetary accounting, that it is necessary to effectively address its legality but also what happens with the National contability, that is, with the macroeconomic magnitudes. It is an obligatory consequence of the Stability and Growth Pact.

A great economist, Stuart Mill, he sent us forever this necessary observation in "Considerations on representative government": "The true protagonist of a constitutional government demands that it is suspected that you can abuse the power political ... because it was always like that, because that is the usual tendency of things ». In the protection against those temptations that complicate, and sometimes sink the national economic whole, our Court of Accounts.

JUAN VELARDE FUERTESJUAN VELARDE FUERTES

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