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"The trail of the lack of job creation in Spain is extended at least through 2017" (30/10/2012)

The economist, José Francisco Bellod Redondo, gave a talk at the Cultural Center and Workers Totana on Friday 26 October.

The topic that was lectured Bellod Professor "Unemployment and Crisis: Prospects for the Spanish economy."

Bellod a PhD in Economics from the University of Murcia and boasts an extensive background in both the private enterprise and in teaching, both university average.

His dissertation was accompanied by numerous charts and statistical tables, beginning with exposing what has been the origin of the economic crisis we are experiencing in Spain.

Looking back on the evolution from 2007 to now the main economic variables: unemployment, inflation, country risk factor, government debt, household debt, economic growth, etc..

He went on to review the performance of the administration of Zapatero and Rajoy during the crisis.

According Bellod, "Zapatero's government believed that this crisis would be temporary, when the reality is that the overall financial loss had come to stay."

He said the last PSOE government began to carry out a policy of traditional Keynesian providing funds to municipalities and autonomous regions with known Plan "E" to promote economic growth, to end by bending to the dictates of European Union and the European Central Bank, with a policy of cuts undermining the conditions of employees with a labor reform, reducing the salaries of officials and freezing pensions.

According to Professor Bellod, last obedience to the dictates of European Zapatero was the "reform of Article 135 of the Constitution, agreed with Rajoy, by which the state must agree to pay the debt even before social benefits.

For José Francisco Bellod, Mariano Rajoy policy has been a continuation "by storm" of cuts made earlier by the last government of Zapatero, with a labor reform even more regressive than the previous, adding another VAT rise and spending amounts massive public funds to rescue the big banks.

According Bellod, "both policy Rajoy Zapatero as" have kneeled the Spanish economy for virtually nothing, at least Greek and Portuguese governments have ensured that Europe has spent millions amounts to rescue their economies. "

He concluded his speech talking about the prospects of our economy in the immediate future.

He said there were glimpses that until at least the year 2017 can approach Spain minimally GDP growth of over 2 percent threshold at which it could begin to create jobs.

The talk ended with a very lively and interesting conversation on the part of the guests who attended the Cultural Center and Workers Totana.

Source: Centro Cultural y Obrero de Totana

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