Fashiontv Changing Backstage

This effect begins to resemble a Zapatero

Successive English stock market falls in recent weeks are teaching us that every time a profile is more like the dreaded W announced People as Nobel Prize Paul Krugman (English) or the CEO of Europe's biggest bank referring to the economic developments after the crash of 2008. It is true that pockets of other countries are not falling as much (although today was a bad day everywhere) but do not you think that the economic situation of Greece, Portugal and Spain may ultimately affect at least the rest of the EU? And perhaps in the case of Spain, more so since German banks, Dutch, etc. have on their balance sheets with loans made by them for English banks to finance the purchase or housing development. And we know how is the English property scene: low ebb, with few companies wanting to build houses and many unemployed people who are going to continue to increase the stock of arrears. As someone has said, Spain is a huge subprime.

All this merely to show that the way they have carried the economy in recent months the government of the PSOE and the Bank of Spain, this no doubt in cahoots with him, was not exactly the most appropriate. On the contrary, has done everything possible to delay the housing slump and its corresponding impact on entities financial, not allowing them on their balance sheets reflect the impairment of property they had in their balance sheets. Not to mention the manipulation of statistics on housing prices.

In my opinion, and in more and more people, until they make the adjustment in housing prices and accommodate the results of banks to reality ( something has begun to do but it is insufficient ), entailing the disappearance from English financial institutions, it will not be back on track since the credit will not begin to flow society. And as for the PSOE government and we've always had a reverential fear of the bankers (or have to think that their mutual compromises prevent them from going against them?), But we are at a critical time that any delay in taking actions required can lead us into the pit. Indeed, the hole has the face of pension reform, that is, a decision that exacerbates the future of millions of workers. And all the rights to show Europe that something is being done.

(figure I've taken from Invertia )