John Müller: The Spain of Sisyphus



If we open any newspaper ten years ago, the three great economic problems of Spain were the labor market, an unsustainable pension system and a skyrocketing deficit of around 10% of the GDP. The unsettling thing about all this is that, if we look at today’s newspapers again, the problems are the same: the European Union demands reforms in the labor market, pensions and budgetary stability, where the 2020 deficit has reached 10 , 97%. In fact, to bad, we could be in a real time loop. Ten years ago the Spanish bank had major problems, several savings banks intervened by the Condition, but the crisis of Bankia that forced


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