MADRID | By Luis Alcaide via Capitalmadrid | A German economist recently questioned the role of Spanish exports to balance the country’s deficit, ignoring statistical facts. His pessimistic attitude shows an exaggerated interpretation of austerity. Meanwhile Angela Merkel is calling for patience and avoiding political responsibility in the construction of a fiscal and economic union.
Articles by Luis Alcaide
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MADRID | By Luis Alcaide | Having now the evidence of how Spain is successfully expanding its exports, the IMF should be able to tell what are competitive businesses from the onerous legacy of over-privileged labour practices that take place in some institutions.
While the US enjoy an economic confidence recovery, euro zone members have to put up with a failed mix of austerity measures and monetary expansion. The strategy must be changed since there are few signs of improvement in the real economy, none in the case of Spain.
The country resists. During the last three years, exports grew at almost the same pace than North America’s, around a 20%.
Spain needs technical but also political assistance to redress the hesitant and often deficient action of the current government. Even if backed by an overall majority in Parliament, the government seems unable to offer a solvent alternative.
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