The Spanish Prisoner
By PAUL KRUGMAN, Spanish version in Economic2b
Monday 29 November 2010
Emilio Ontiveros
Last Tuesday 23rd, I and some classmates (the students of Emilio’s Refreshment Stall) attended a lecture given by Emilio Ontiveros on the occasion of the opening of the academic year 2010-2011 at the University of Ontinyent. Emilio Ontiveros is a professor of economics in the Autonomous University of Madrid. He is also the founder of AFI (International Financial Analysts). Nowadays he is one of the most popular economic and financial analysts of our country.
He spoke about the crisis that began in 2007 and, as everybody knows, has not finished yet. The crisis began in June-July 2007. After nearly thirteen years of continuous growth, the unemployment began to rise.
The epicentre of that crisis lies in EEUU, the most important economy all over the world. The EEUU has been forced to use policies that no one expected the EEUU would need, such as the nationalization of the banking.
Ontiveros also spoke about the European problem of the exchange rates. He highlighted the importance of a common economic policy in Europe. Otherwise, countries which today are using the euro will be forced to return to their old currency.
A part from that, Ontiveros talked about the recent rescue of Ireland thanks to the UE, initially Ireland didn’t accept the rescue but finally accepted it because there was no choice. Accepting it was the only way to avoid the difficult situation in which the country was involved. Emilio Ontiveros said that there are more countries which can be in the same situation as Ireland, for instance, Portugal.
Talking now about the case of Spain we have to stress that our main problem is the unemployment rate (about 20.5%). Spain is one of the countries with the lowest public debt. Nevertheless, our private debt is very high. What do we have to do to decrease this rate? In order to increase the demands first we will have to create new jobs, in that way the unemployment will decrease and the people, as they are working, will buy more things. The secret is in the reliance of the citizens. Bit by bit the unemployment will decrease and the demand will increase. Attending the words of Ontiveros we will have to wait more or less 3 years time. Finding the way to create new jobs is not an easy task.
In conclusion, Ontiveros explained to us the reason of the crisis and the situation that we are living today in a clearly and summarized way. It was very interesting and I am very proud to have listened to a person who knows exactly the situation that we are living all over the world.
The lecture finished with the intervention of the president of the University of Valencia and the mayor of Ontinyet who presented the IX awards “Juan José Renau Piqueras”.
ANDREA GARCÍA – CHAMÓN BRÍGIDO
He spoke about the crisis that began in 2007 and, as everybody knows, has not finished yet. The crisis began in June-July 2007. After nearly thirteen years of continuous growth, the unemployment began to rise.
The epicentre of that crisis lies in EEUU, the most important economy all over the world. The EEUU has been forced to use policies that no one expected the EEUU would need, such as the nationalization of the banking.
Ontiveros also spoke about the European problem of the exchange rates. He highlighted the importance of a common economic policy in Europe. Otherwise, countries which today are using the euro will be forced to return to their old currency.
A part from that, Ontiveros talked about the recent rescue of Ireland thanks to the UE, initially Ireland didn’t accept the rescue but finally accepted it because there was no choice. Accepting it was the only way to avoid the difficult situation in which the country was involved. Emilio Ontiveros said that there are more countries which can be in the same situation as Ireland, for instance, Portugal.
Talking now about the case of Spain we have to stress that our main problem is the unemployment rate (about 20.5%). Spain is one of the countries with the lowest public debt. Nevertheless, our private debt is very high. What do we have to do to decrease this rate? In order to increase the demands first we will have to create new jobs, in that way the unemployment will decrease and the people, as they are working, will buy more things. The secret is in the reliance of the citizens. Bit by bit the unemployment will decrease and the demand will increase. Attending the words of Ontiveros we will have to wait more or less 3 years time. Finding the way to create new jobs is not an easy task.
In conclusion, Ontiveros explained to us the reason of the crisis and the situation that we are living today in a clearly and summarized way. It was very interesting and I am very proud to have listened to a person who knows exactly the situation that we are living all over the world.
The lecture finished with the intervention of the president of the University of Valencia and the mayor of Ontinyet who presented the IX awards “Juan José Renau Piqueras”.
ANDREA GARCÍA – CHAMÓN BRÍGIDO
Sunday 28 November 2010
Sunday 21 November 2010
Tuesday 16 November 2010
Monday 15 November 2010
Sunday 7 November 2010
Monday 1 November 2010
EAPS
 |
| De Economic2b |
 |
| De Economic2b |
Economically Active Population Survey (EAPS)
Third quarter of 2010
Spanish unemployment rate falls
Subscribe to:
Posts (Atom)