My feeling is that the Spain of Zapatero looks more and more like the Hungary of Gyurcsany with every passing day, and I say this more from the point of view of the twin deficit problem, and the impression the administration gives of things being totally out of control and no one knowing what to do, than anything else.
The biggest unspoken issue we are seeing in one economy after another is the retreat of a lot of activity back into the informal sector. So called economic “greying”. [...] More tax increases on the very rich and professional middle classes will be entirely unproductive as they will only accelerate this process.
Lastly, increases in VAT. These are again very counterproductive, since they hit consumption directly, at a time when consumption is declining anyway. All such increases do is accelerate the contraction.
Não preciso explicar o quanto a retoma da economia espanhola seria importante para a economia portuguesa, contudo, tendo em conta o péssimo trabalho que o gémeo de Sócrates no vizinho ibérico está realizando, temo que Espanha está numa embrulhada de que demorará muito tempo a libertar-se. É uma pena que Zapatero seja gémeo do socialista errado, antes fosse de Guterres. Por esta altura, já havia reconhecido o pântano e abandonava o executivo.