The only thing socialism can ever boast about is its unbroken streak of destroying everything it touches.
Spanish Socialist Government Worsens Economic and Health Crisis
Spain is facing the biggest economic crisis since the Civil War with one of the worst public deficits (in the whole European Union) and with the worst democratic government.
The socialist-communist government of Pedro Sánchez and Pablo Iglesias is the chief culprit driving the health and economic crisis. They prioritized their ideological interests to satisfy the wishes of the radical feminists, and focused all their attention on promoting the demands of their Machiavellian partners in government, including Quim Torra and his “Catalan coñazo.” Thus, they ignored and underestimated the coronavirus, which has resulted in more than 10,000 deaths and almost 120,000 cases so far.
The WHO and other international organizations urged all countries, including Spain, to prohibit mass events and implement large-scale testing. However, Pedro Sánchez ignored these requirements. The government allowed the gathering of thousands of people around March 8. Other events, such as sports events, were also carried out per usual. This is real negligence that has taken away the lives of thousands of people, leaving so many thousands of families devastated.
Don’t let them fool us. A few days ago, police confirmed that the purchase of masks and other sanitary equipment had been ordered since January. Furthermore, the uncontrolled epidemic in China was already invading other Asian and European countries. It was well-known. In fact, it was so clear that they even decided to lie and hide the number of deaths that had occurred between March 7 and 8 to not alarm the population. The problem is that, if the government banned certain events, there would be no excuse for holding the 8M demonstration and, of course, the great ideological party of the left could not, in any way, be canceled. “Better dead than fascists.”
The looming economic crisis
This health crisis, however, will be followed by a severe economic crisis. And if the government has already shown that it cannot set aside its sectarianism even when people are at risk of death, imagine the disastrous economic consequences. And we don’t even have to imagine anything. It is clear already. Spain is facing the greatest economic crisis since the Civil War with one of the highest national debts (in the entire European Union) and with the worst democratic government.
To understand why an economic crisis will break out in Spain, we must take into account our precedents. In 2019, the gamut of local administrations recorded a deficit of 32,882 million (about 2.6% of GDP), which is twice the target of 1.3%. Nevertheless, public revenues rose by 3.8% year-on-year. In other words, the state increased spending by 4.1% (recall: social Fridays, higher pensions, higher public wages…). Last year, the public debt closed at 95.5% of GDP while the maximum debt level established in the Maastricht Treaty is 60%.
Thus, Pedro Sánchez has no debt margin. Now more than ever, we understand why it was, and is, necessary to clean up the public accounts when it was possible to do so. We would have debt capacity when required. Currently, we find that Spain and Italy are burdened with many more liabilities than Germany and the Netherlands, countries which have made an effort to reduce their debt in a sustained manner since 2013, while the former has essentially kept it stable.
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