Fernando González Urbaneja | The most striking aspect of the Prime Minister’s speech on Saturday was his assertion that the judiciary (Constitutional and CGPJ) is delegitimised because the PP does not accept the terms proposed by the government. To top off the accusation, Sánchez argues that the PP, by not renewing, violates the Constitution. The political history of the PSOE led by Sánchez insists on pushing the opposition, the PP,…
Fernando González Urbaneja | Taxes are the price of civilisation. They are mandatory, obligatory, because if they were not, potential taxpayers would avoid them with personal excuses. Tax theory rejects taxes that are aimed at specific activities. The doctrine says that good taxes are generalist, easy to understand, easy to collect and equitable. And the fiscal disorder comes when it becomes complicated, when exceptions, allowances, tax reliefs and other types…
Fernando González Urbaneja | Uncertainty, volatility, acceleration… these are common concepts, clichés in any economic presentation that abound these days. We have seen it all in real time over the last few hours. Inflation rates soaring to almost double-digit levels over the last few months have put the (independent and competent) central banks and their monetary strategies on the spot. Inflation is a monetary issue, therefore the responsibility of the…
Fernando González Urbaneja | Airports are returning to their pre-covid activity and bursting at the seams. This is not an exceptional occurrence; it is happening in many other public services, for example, in health consultations and the ensuing events (tests, operations, etc.). It was foreseeable, the pandemic reduced staff numbers and accumulated tasks. In the case of health care, it produced delays, both voluntary and forced, which are now returning…
Fernando González Urbaneja | All the polls (except those of the CIS) improve the voting expectations of the PP with Feijóo at the helm and worsen those of Sánchez’s socialism. In fact, they sketch out a tie at around 30% of the vote for each. And all the polls show that the Prime Minister’s rating is below that of the party and some of his ministers. These ratings seem to…
Fernando González Urbaneja | The Bank of Spain’s Annual Report, usually issued in May/June, is the canonical report for economic experts, the one used as a reference for all those who want to have an informed opinion. This does not mean that it is infallible, but it does mean that it is reliable and trustworthy. Some of the all-knowledgeable people who take up space on television this morning said that…
Fernando González Urbaneja | It’s coming up to a year since gas became more expensive on the international markets, which in Spain led to an unbridled rise in the price of electricity for a large number of families and companies. A price hike that had a spectacular and artificial impact on the CPI, with second-round effects on all consumer prices and on the direct costs of production processes. At the…
Fernando González Urbaneja | A decade ago now, in the midst of the 2008-12 recession, that of the financial crisis which was more than that, the so-called “15M” movement emerged in Spain and “Occupy WS” in New York. They proclaimed loudly, chanting slogans such as: “they don’t represent us”, “they call it democracy and it isn’t”, “Take the square”, “PP and PSOE it’s the same shit”, “no home, no job,…
Fernando González Urbaneja | Irish unification is likely to be on the horizon later this decade. Demographics and politics are transformative. And both are on the side of unification. Last week’s elections in the six northern counties point to changing majorities. Unification has not occupied the campaign debates, but it looms large as it is part of the permanent and structural agenda. Republican parties are now dominant against those who…
Fernando González Urbaneja | In recent years the European Central Bank, in addition to ensuring price stability (an objective it has achieved), has tried to sustain and stimulate the euro economies by supplying all the credit necessary and at the lowest price imaginable, practically zero. States have benefited from this policy by issuing debt at no cost, even with a few tenths of a yield. The ECB has done its…