Blanca 471

Page 1

ISSUE 471

COSTA blanca

29 MAR - 4 apr

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SPAIN’S EU EXIT ON HORIZON SPANISH university professors and economists are calling on Prime Minister Mariano Rajoy to come clean over its debt burdens as calls for the country to leave the European Union (EU) grow. And they say it is absolutely essential that the People’s Party-led government immediately produce accurate figures over the country’s GDP as debt burdens weigh on hardworking families. The average Spanish family is crippled with £118,000 (€136,000) in debt brought on by years of mismanagement, it has been warned.

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certify the ‘official’ figures that the government gives. “The official debt is now at €1.1 trillion, but the debt is much higher. “Let me say that only a miracle will reduce that amount of debt, but anyway, even in that improbable event, Spain would have to give to Brussels its real total amount national debt figures. “This total amount of debt which has nothing to do with the dossier we have sent to the European authorities is published every three months by the bank of Spain under the name of ‘circulating passives’.

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But leading economist Robert Centeno says the unstable administration led by Rajoy which has been in gridlock since the controversial election in 2015 is not being honest about Spain’s current economic conditions. And there are growing calls for him to disclose figures amid serious concerns Spain could be set to default on loans which cannot conceivably be paid off for half a century. Mr Centeno said: “People don’t really know what type of menace the national debt is for their lives. “The mass media in Spain simply

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