Las crisis de España se agravaron el 2004

Sevilla, primavera 2012. Foto Raúl Doblado, La Unesco inicia el juicio a la Torre Pelli por su impacto al patrimonio.

Las semillas podridas habían comenzado a florecer años atrás.

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Durante el apogeo sonámbulo y suicida del modelo sol – playa – ladrillo y corrupción… “Estuvieron a punto de dimitirme con motorista, por denunciar…”.

Mientras los españoles caminaban felices rumbo a ninguna parte, España, era víctima de las ratas traídas por los flautistas de Hamelín.

Otro testigo privilegiado, Martin Wolf, recuerda en Financial Times los “primeros” debates internacionales sobre la dimensión catastrófica de la burbuja inmobiliaria española. Y la soberbia petulante y suicida de los flautistas inmobiliario / filantrópicos:

In January 2004, I attended a property conference in Switzerland, to give a talk on the European economy. I talked about the end of European catch-up on US productivity levels. But the most interesting part of the conference was a workshop in which I argued that a number of European countries, the UK being one, had dangerous property booms.

The most dangerous of all, I suggested, was Spain’s, because it is a large European country which was experiencing a huge rise in property prices and, as a result, a huge boom in property development and a correspondingly overheated construction sector. The results could be extremely painful. This remark led to a heated altercation with a Spanish property developer. I understood why he was so angry. But he was wrong, of course.

The Spanish property sector created a huge boom and a huge crash. The big question is what the Spanish authorities should (or could) have done about it.
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Above all, how could Spain have prevented this crisis, which was unambiguously generated in the domestic private sector and fuelled by private sector capital inflows? If it could not have prevented the crisis, how can it bear some deep moral fault? Surely, a far more sensible – indeed moral – approach would be to recognise that this is more misfortune than misdeed and offer Spain the help it needs to adjust its economy to the post-crisis reality, without letting it either be pushed into sovereign bankruptcy or humiliated. Yet that is what is now threatened.
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Now it needs help to survive the crisis. Will Spain get enough of what it needs? I doubt it. [Financial Times, 25 / 26 junio 2012. Martin Wolf, What was Spain supposed to have done?].

Las negritas son mías.

Pagar ese gigantesco pufo de Estado llevará años y años de sangre, sudor y lágrimas.