Serious lack of credit in the Spanish economy

Markets are closed and it is the worst time to broadcast in markets since the crisis began. These were the words of the International Financial Analyst consultant, Gloria Hervás. On the other hand, the official recognition that the credit crunch is a problem came to light on Monday by Treasury Secretary Carlos Ocana, who stressed that the solution will depend on us to generate confidence in investors. In addition, the alarm also activated Francisco González, BBVA Chairman, admitting that the credit markets were closed most of the companies and entities of the country. In recent weeks, the government of Zapatero sought to gain international confidence with an austerity plan to lower the deficit from 11% in 2009 to 3% in 2013, and labor reform expected soon. However, no support for labor reform groups in the Spanish Parliament and unions have called a general strike on September 29, the first against the current socialist government. In addition, the European Commission today called on Spain further cuts in spending to the risk that the high indebtedness of the country becomes a snowball in the future. Related posts: Zapatero enact labor reform Spanish economy continues to disappoint Zapatero measures against the slowdown in the Spanish economy