January 17, 2021

«If nobody prevents this nonsense, Spain will be the next Italy»

«If nobody prevents this nonsense, Spain will be the next Italy»


Thes economic data that is known must be seen without alarmism, but with concern. The same as government balloons with apocalyptic announcements.

-What is your diagnosis of the Spanish economy?

-It is in a phase of moderate slowdown, which still maintains the momentum of the reforms of recent years. But it is true that it is beginning to be noticed in recent months that there are indicators that should lead us to a reflection.

-From some pulpits is being implied that we return to the crises of 2009 or 2011.

-The reason why people fear this slowdown is because they have lived in times when we were told that it was a moderate slowdown and we ended up in a tremendous crisis.

– The most worrying at the moment is the political uncertainty?

– The uncertainty does damage, but, mainly, the perplexity that the announcements of the Government leave and they refute a few hours later, if not to the five minutes. Do not encourage uncertainty with apocalyptic ads.

– You notice that uncertainty?

-It is being noticed in the recruitment data, very poor and showing a downward trend. In the creation of companies, it seems logical to think that within a few months there will be a withdrawal effect on the investment. These are data that must be viewed with caution, without alarmism, but with concern.

-There is nothing serious, but many indicators that warn that something is happening or will happen. Is it like that?

-It is obvious.

– Is not the government firing everywhere?

-We have never seen in such a short period of time the number of announcements of measures to be implemented: war on diesel, taxes for everything, pensions …). It seems a joke.

– What is your reading of the latest IMF report?

-It was a very diplomatic report, extremely diplomatic. I tried to be constructive with the Government. But he says important things. He talks about the difficulty of hiring, to create companies and employment. I did not want to send apocalyptic messages to thin the climate even more.

-What is most worrying about the Spanish economy?

– That a government that arrives with a growth situation in which we could meet our commitments with Brussels in a very comfortable way, take as a decision to increase structural imbalances at a time when it is not necessary. In Spain there is no need to increase public spending. When you find yourself with a moderate economic slowdown, to anyone, with two fingers of the front, with what we have seen in the past, it occurs to raise taxes and increase spending.

– Is raising taxes a suicidal decision?

-You can not raise taxes. Spain, citizens, the self-employed and businessmen have already seen a very large rise in taxes at the national level and especially at the regional level. Until Tsipras is going to lower the Corporation Tax; Portugal is also going to cut the income tax …

-What would be more reasonable policy now?

-Financial stability. Budgets in which the main objective is to maintain social spending and reduce inefficiencies in public spending.

-Nothing to do with the PSOE-Podemos agreement

-It is a nonsense. Aggressively increases structural expenses and raises taxes that penalize employment and investment. It is completely antisocial.

-The opposite of what they sell.

-It is an irresponsible agreement.

– Who is going to pay for the party?

-The citizens, with more taxes, more debt and greater cuts in the future.

– Is Spain a country with many taxes, high and where little is collected?

-We do not raise a little because taxes are low, but because we have too high taxes that do not allow more people to enter the labor market, hire more people, invest more …

– What will the Government present to Brussels tomorrow?

-It will present a deficit reduction path that your own coalition partners will reject outright.

– Will there finally be budgets for 2019?

-I trust that the responsibility of the PNV and other groups will make this nonsense not prosper and that Brussels will knock them down drastically. If not, Spain will be the next Italy.

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