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Spaniards do not work... See the answers Spain will not be able to pay its debts, there is an alarming flight of bank deposits or the Spaniards do not work hard... These are three of the ten myths that circulate about the country's poor economic situation. A report dismantles them and concludes that the country is solvent and is growing structurally. Strong report from the 'VIP businessmen' club: “Spain is not Greece, Portugal or Ireland.” It has world leaders such as Telefónica, Santander, BBVA and Iberdrola The 61 strong points in which Spain is a world leader. The Ministry of Foreign Affairs distributes a dossier to journalists and embassies: see the document The document , to which El Confidencial Digital has had access , has been prepared by Ignacio de la Torre , partner of the investment bank Arcano, who is also a professor of Finance and Economics at IE. It starts from the fact that in 2006 Spain attracted record levels of portfolio investments , and asset prices reached historic highs, despite the fact that the growth of the country's economy was unsustainable and the banking and fiscal crisis was already beginning to emerge .
De la Torre raises why in , when the Spanish economy has alleviated most of the risks, there is a more negative outlook, when, furthermore, some data support the opposite. The ten big lies about Spain This paradox is based, to a large extent, on the ten false myths that exist about the Spanish economy and which the report dismantles. The myths Middle East Mobile Number List followed by the answer, are as follows: 1) Spain has a debt/GDP of 363%, which it will not be able to repay. The leverage is 268% (not 363%) since the debt of financial entities should not be counted twice. The real leverage of the companies should be adjusted, due to: -- the amount lent by Spanish banks to companies, so as not to count twice -- loans between companies, also double-counted (27% of GDP) exp-player-logo Convicted of abuse sexual relations with a seven-year-old girl, the daughter of a friend who welcomed him into her home, in Palma see more -- 40% of GDP is debt that belongs to the real estate sector, which in turn is being provisioned at 20% of GDP (50% in total) -- debt related to investments made in international companies (44% of GDP), which do not contribute to Spanish GDP.
Spain is prudish with public spending . The country's public spending is lower as a percentage of GDP compared to most eurozone countries and the United Kingdom. 3) Spain is not competitive . The country has increased its competitiveness between 9 and 14%, allowing the growth of its exports. 4) Spain does not have a growth model . Spanish exports and tourism are at historic highs (more than 200 and 60 billion euros, respectively) 5) Spain still has to make many adjustments . As a result of a drop in imports and an increase in the level of exports, excluding energy, the 8% deficit has moved to a 3% surplus in reducing the need for external financing to a minimum. The financial sector will have provisioned close to 200 billion euros by the first quarter of , and housing prices are adjusting to those of other economies. 6) Europe will allow Spain to leave the euro . An eventual exit of the country from the euro zone would be much more costly than supporting its liquidity needs. 7) Spain does not carry out reforms . The country is carrying out a fiscal adjustment of 11.3%, one of the largest in the recent history of the OECD. Supply-side reforms could increase GDP by almost 9% in the coming years.
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