Today is news worldwide the downgrade of Spain by Standard & Poor’s. In the news they say that Spain is the fourth economy of the eurozone.
It is a depressing news. I have the feeling as if nothing could be done. These last months cuts and cuts have been brought to the Catalan health System. Even the top workers of the Catalan Government won’t receive their extra wage of Christmas.
It is quite easy to see a crisis from outside. For example, when I look to the Greek crisis it is easy to imagine Greek politicians who had been spending too much these last years. But when you have the problem in your own state the situation is another.
As far as I see this is the way I see the things in Spain. On the one hand the Catalan government has realised the bad situation we are in and it is cutting and cutting even if this is very umpopular. On the other hand in Spain they seem to be in the situation that Catalonia was some months ago. I have the feeling there is a delay.
In Spain and Catalonia there is a lot of nationalism. If this nationalism was used for good and not just to fight each other I think that we could fight this crisis.
The situation is quite weird. Catalonia is one of the wealthiest part of Spain but it is the one that is making greater cost (or this is the way it is shown on Catalan public TV …)
On November 20th a new government will be chosen. So the cuts that have begun in Catalonia will begin in the rest of the state I imagine.
It is true that in this part of Europe things were done in a wrong way. But, where was the rest of Europe?
I could mention milions of euros wasted in high speed train stations. The richest countries of the world do not have these stations and here we have them. I am ashamed of this.
I hope Europe gets strong with Spain and looks into detail what happens here. There are people here that do things well but there are also the opposite. It is necessary that Europe comes here to see what is done.
I remember perfectly well when we began using the euro. There were certain conditions and Spain comply with them. I was astounded that years later the conditions were not complied even by Germany. What I mean is that if you see that Germany was not complying with the conditions then one could wonder why on earth should others do.
Anyway, I think that Europe must think which future we want. I think that the best would be a future with a Europe with a diversity in culture but with total uniformity in fighting curruption and too much spending. Doing things well is not just good for Germany.
- S&P downgrades Spain’s debt rating on weak economy (seattlepi.com)
- S&P downgrades Spain one notch (business.financialpost.com)
- S&P lowers Spain’s credit rating (bbc.co.uk)
- S&P downgrades Spain’s debt rating on weak economy (seattletimes.nwsource.com)
- Spanish bank ratings downgraded (bbc.co.uk)
- Spain downgraded, the UK is next to suffer [Simon Dixon] (ecademy.com)