tag:blogger.com,1999:blog-25064447.post3174129550734949119..comments2013-09-12T06:30:06.298+02:00Comments on Spain Economy Watch: Going For A SongUnknownnoreply@blogger.comBlogger4125tag:blogger.com,1999:blog-25064447.post-25613644824535390312008-12-24T13:44:00.000+01:002008-12-24T13:44:00.000+01:00Hello Edward,Merry Christmas and Happy new year.24...Hello Edward,<BR/><BR/>Merry Christmas and Happy new year.<BR/>24/12/2008<BR/>MDMAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-25064447.post-79410682448997843352008-12-24T08:58:00.000+01:002008-12-24T08:58:00.000+01:00Hello Geert,Thanks for this. I will post something...Hello Geert,<BR/><BR/>Thanks for this. I will post something on it later today. <BR/><BR/>Yes, I think Ordoñez is more realistic than most other official spokesmen in Spain at the moment, and he is clearly worried, although do note he is still having to speak through the official "code" language of the global crisis. No one seems able to publicly admit that Spain's problems are much worse than most.<BR/><BR/>The <A HREF="http://www.eiu.com/index.asp?layout=VWArticleVW3&article_id=754082260®ion_id=450000445&refm=vwReg&page_title=Latest+regional+analysis&rf=0" REL="nofollow">Economist Intelligence Unit had a reasonable piece recently</A>. They also draw attention to the split between Zapatero and Sebastain on the one hand and Solbes and Ordoñez on the other. Solbes has already indicated he wants to go, but obviously Ordoñez is staying to battle it out.<BR/><BR/><I>One consequence of the recent policy measures is the emergence of two discernable factions among the country's leading policymakers. On the one hand, Mr Zapatero favours a strongly expansive fiscal response and hands-on public-sector engagement in the real economy—an approach that is backed by the increasingly influential minister of industry, commerce and tourism, Miguel Sebastián.In the opposite corner the minister of the economy, Mr Solbes, and the governor of the Bank of Spain (the central bank), Miguel Ángel Fernández Ordóñez, are both displaying visible concern about the consequences of unbridled fiscal expansion and the public appropriation of private risk. Mr Solbes recently spoke of the dangers of an excessive deficit, while Mr Ordóñez has warned the government that it runs the risk of leaving itself with no room for manoeuvre if the economy continues to deteriorate for a protracted period.</I><BR/><BR/>Tricky times ahead, but have a good xmas all the same.<BR/><BR/>EdwardEdward Hughhttps://www.blogger.com/profile/10384039867580949531noreply@blogger.comtag:blogger.com,1999:blog-25064447.post-16061225005251761572008-12-23T17:19:00.000+01:002008-12-23T17:19:00.000+01:00just saw this onehttp://www.breitbart.com/article....just saw this one<BR/>http://www.breitbart.com/article.php?id=081221154025.lrwl34xi&show_article=1<BR/>Ordonez seems to be aware of the precarious situation (in Spain)<BR/><BR/>geertAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-25064447.post-25561396486419036912008-12-15T18:00:00.000+01:002008-12-15T18:00:00.000+01:00Straight from the Argentina playbook.Straight from the Argentina playbook.Charles Butlerhttps://www.blogger.com/profile/00486529931043507880noreply@blogger.com