"How can I know what I think until I read what I write?" – Henry James


There are a few lone voices willing to utter heresy. I am an avid follower of Ilusion Monetaria, a blog by ex-Bank of Spain economist (and monetarist) Miguel Navascues here.
Dr Navascues calls a spade a spade. He exhorts Spain to break free of EMU oppression immediately. (Ambrose Evans-Pritchard)

miércoles, 12 de diciembre de 2012

La esperanza, siempre a la vuelta de la esquina

Ayer les dije que Europa era la tierra en que la esperanza siempre está a la vuelta de la esquina. Y cuando se ha doblado la esquina, de nuevo se debe esperar a doblar la siguiente esquina. Grandes filósofos de esta actitud, Dc Montoro, Dc Rompuy, Dc Olli Rehn...

A continuación, unas declaraciones del Comisario de economía de la UE, Olli Rehn, con un año de intervalo entre ambas. En el FT, una deliciosa carta que no puedo resistirme a poner entera, enfatizando lo más hiriente:

Sir, The EU commissioner for economic affairs brings us good news: “Since last spring,
Greece has demonstrated a remarkable commitment to economic stabilisation
one certain to yield lasting returns. Spain is now also pursuing a broad reform agenda.” Indeed, “Europe’s recovery in the real economy has taken hold and is becoming self-sustaining.” So the commission’s strategy is working, it seems.
Except those quotes aren’t from Olli Rehn’s most recent article on your Comment page (“Austerity is working – Europe must stay the course”, December 11, 2012). They are from his article of two years ago: “New reforms can break Europe’s debt cycle”, January 11, 2011.
In this week’s piece, he said:
There is light at the end of the tunnel ... confidence is returning ... we need to stay the course ... ” What about the realities of actual economic developments in the eurozone over the last two years? If Mr Rehn had changed a couple of dates, he could probably have saved himself the trouble of writing a new article and simply resubmitted the old one.
What has actually happened in the intervening period? Unemployment in both Spain and Greece has risen to over 25 per cent. Even in Latvia, the commission’s favourite “success story”, where growth has returned, the falls in unemployment (from a very high level) have largely been the result of mass emigration; employment in Latvia remains about 20 per cent below its pre-crisis peak.
To quote Tacitus: “They make a desert and call it peace.”
Jonathan Portes, Director, National Institute of Economic and Social Research, London SW1, UK
Tienen la cara de cemento armado que nosotros les dejamos que tengan. Estos Comisarios, que llevan, como Almunia, chupando del bote desde hace décadas, que nadie ha elegido, que están a prueba de cualquier voto y cualquier caída en desgracia, ¡son tan transparentes cuando se les ha pillado! Lo único que quieren es mantener el chollo.
Y mientras, entre esas dos sublimes declaraciones, España y Grecia se hunden, y el Euro también, como veíamos ayer. Crecimiento de la economía de : Total mundial, Países avanzados, EURO, Emergentes.



Aguanta Manolo aguanta... Que tú no eres Comisario de la UE. Ni parlamentario, ni ná.




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