What the German wise persons think about Spain and the crisis.
They will say that I very rarely see people but this Thursday I met with the mind to new experiences. Announced the presence in the Rafael del Pino Jurgen B. Donges, a type that would be wrong to think that it is not known in his home at lunchtime, and in some circumstances contribute to make it truly unique. First is a German born in Seville, a contradiction 'in terminis' has been resolved on the German side, second is a professor emeritus at the University of Cologne, and finally has been president of the German Council of Economic Experts, and therefore, was one of five scholars who advise the ministers Germans so they know what to do, and paint in gold or in clubs.
Let me place before the character. Donges, so perhaps it was wise for ten years, believes the smartest in the class, and do not forget to remember that if you had done Helmut Kohl case there would have been no crisis of the euro for the simple reason that he saw no need to create a single currency, nor a sovereign debt crisis, because none of the peripheral countries had entered the eurozone, "When I was dispatched to Kohl said he had to think big historical terms," he said in a tone of derision.
We, therefore, to an economist who believes listísimo and feels a deep contempt for politicians, either because they ignore him at all or because no heed to themselves and do not respect their own rules. This disdain is not saved or Angela Merkel, here we find a governess goat or the devil wearing Prada large sizes, but that does not exceed Donges soft.
His conclusion is that the current crisis has nothing to do with financial four years ago but has been driven by governments, as passed by the Arc de Triomphe the European Treaty provisions prohibiting the rescue of a member or the ECB to finance public deficits.
Understandably, the sage is opposed to the ECB buying government debt ("deaf ears and will not solve anything") to euro ("Zapatero and Berlusconi have not done the little that made it not been for the higher risk premiums (...) Jesus told us to be brothers, but cousins referred to the Germans, etc "), and concern that all countries of the nose should remain in euros.
What do things have been done well? Few. A debt restructuring is Greek, which, apparently, was his idea - "I already told my minister" - and it does not really help much because the Greeks can not afford it even with the off, the second , forcing banks to capitalize and to consider debt a risky asset, and the third, extending the formula to constitutionalize the containment of the deficit, as we have imported from Germany. Nevertheless, "we are worse than 18 months ago."
More interesting than the above was to prove that the Germans are happy to know that the Spanish, who filled the auditorium, they are able to laugh out loud laughter when a German repeated the topic here is low productivity because we are lazy and work less that the guardian angel: "In Germany when we left breakfast we will work from home. And you, being in bed a few minutes, half asleep and they need a coffee to go. Maybe that could change, "he said.
The laughs were sad, but more painful was that one of the presenters at Donges, Amadeo Petitbò, asked him what he was going to improve our competitiveness. The question was clearly inappropriate, coming from a gentleman whom taxpayers have paid to chair the Tribunal for the Defense of Competition, naively believing that knew something about the subject.
Back to the comparison between Germany and Spain: there-and-true learning takes great care in companies, and here, there is all much cheaper, to the point where the brandy Carlos I, which deprived Donges, Cologne is five dollars cheaper than in Malaga. And that's not to mention the Frankfurt airport, where no one waits in long lines to pass the controls because there is good and bad here. Even the angry Germans and the U.S. are much better than ours: "They look more neat and more contact with the shower" (laughs). In his opinion, if we are not very productive because we want, but we can learn. "You have learned to play football. There is nothing that can not be changed, "he said. (More laughter).
The lecture concluded with the three wise advice Rajoy, in which he recognized as a merit for having remained silent after the elections. In his view, if politicians stay silent for several months, avoid uncertainties launch markets.
Well, the president-elect should submit a plan to clean up public finances for several years, detailing where to cut spending and put the focus of the income tax rise, "which does not affect business investment." You must also restructure the financial system by creating a bad bank, explaining that taxpayers will have to pay those. Finally, it has to create the Ministry of Economy and Labour to manage an in-depth labor reform, warning unions that will bring you to cool your kicking. Following his advice and be patient, because these things are slow palace, we will be saved.
http://www.cuartopoder.es/preferiri...lemanes-piensan-de-espana-y-de-la-crisis/1227
What an onlooker! a few years ago the whole world was pleased with the Spanish miracle, in this moment it was importing to nobody if we drink coffee before going to the work. If this German wise person wants that we start speaking about topics also we can start the Spanish speaking about topics and say with what intention the U.E. was created in his moment...
