A new edition of the PROA Communication Observatory was held on 18 June. On this occasion, José Carlos Díez was the guest speaker, economist, author of the best-seller "There is life after the crisis" -which has sold 70,000 copies -, who analysed the recovery of the Spanish economy, its intensity and its risks.
According to José Carlos Díez, In the second half of last year there was a disconnect between the official discourse of the media, the government and big business, on the one hand, and the actual performance of the economy, on the other. It was launched
However, and although, according to the economist, "the markets are inflated and do not mark the real temperature", it is true that now "the expansionary cycle has begun and there is a significant improvement in the economy". According to this expert, the second quarter of 2014 is looking good: tourism has held up and there is growth in the production of capital goods. But, in this context, José Carlos Díez has outlined the main threats to the Spanish economy: "the bells are being raised about the recovery "for purely propagandistic purposes". Díez also warned that for the sake of propaganda, "the national accounts have been made up and the deficit figures are being lowered".
External risks
– GreeceIt is a powder keg. The source of the crisis in Europe and with no sign of improvement at all. It is Europe's main risk.
– Portugalis worse off than us in terms of debt level and ability to pay.
– Irelandis a simpler case to solve, but so far, it is not going well.
Internal risks
– Catalonia and their secessionist aspirations.
– Social riskThere is less tranquillity than people would have you believe.
– Political riskThe fall of the two-party system is structural and it will be difficult to have a strong government.
And what should be done?
For this economics professor and regular contributor to media such as El País and the television channel La Sexta, Spain does not have a competitiveness problem, but it does have a debt and financing problem. For this reason, the ECB should encourage the depreciation of the euro, through the purchase of bonds and the generation of inflation. Díez recalled that the ECB's work is decisive, "in 2012 it was able to reverse the financing crisis with 13 words". Díaz applauded making the new injections announced by the ECB for eurozone banks "conditional on them providing financing for SMEs". In the domestic arena, she criticised the eventual tax reform and "lack of action by the government". The worst policy, he said, is "not to take any action".
