A decade of austerity

In the heart of debate over whether diet or not the regional administrations, initiated by Mariano Rajoy, our vice president Gerardo Camps borrowing must decide whether or not the Community's 500 million more for which you have authorization. For now, Artur Mas has already told Catalonia Zapatero does need it, but have exhausted their credit limit, because of pufo that has left its predecessor, José Montilla.

All this happens in the week that Angela Merkel arrives in Madrid to check our accounts, in the scramble for the German offer to host a Spanish graduates are not working in our country. This possibility is not new, since in the past two years have already migrated to other countries Spanish 120,000 young people aged 25 to 35, all highly qualified professionals. As if the problems of our labor market were not enough, we do, then, to welcome immigrants and export untrained talented graduates.

This sad scenario already planned Santiago Professor Child in his lucid book The crash of 2010, noting the lack of a dedicated Spanish economy factor intensive activities, which generate little added value and make us more dependent on the external sector and of credit. In his devastating diagnosis, concluded that "the world has been too many years squandering resources" and that in the Spanish case, "outside the resulting depression can be extended to 2020."

If that was not enough to depress, the Government accounts are even more complicated. Everyone agrees that the plans layoffs Consell widespread public enterprises after the election, obviously. Moreover, although Paula Sánchez de León refute the thesis of privatization of public television which advocates national secretary of the PP, María Dolores de Cospedal, the RTVV has to cope with impending payments and you can not attend some providers refuse to continue to give service.

Even apparently healthy until recently Bancaixa just announced on the lips of José Luis Olivas you will need to further refine and sell office staff to cash. But is it possible for all, government, financial institutions, individuals, ... liquidate assets are made simultaneously without resent to the markets?

Of course not. So we'll have to tighten our belts more than others. Not surprisingly our unemployment rate is 22.9% higher than the Spanish average, so we need GDP to grow by more than 2% annually to create jobs. We are also on line at the level of primary and secondary education and the financial cost of our debt exceeds spending on administration staff.

Here are a few examples of the decade of austerity ahead. And, although the political class continue preaching something else, those happy times hard to four pesetas have definitely passed into history.