“Las familias y las empresas españolas están entre las más frágiles del mundo…”, El amor y la crisis.

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Detrás de esa vulnerabilidad, no es dificil descubrir las negras sombras de la imprevisión, la irresponsabilidad, la ignorancia, la especulación, la economía de la incultura, La OCDE confirma que España es víctima de su economía de la incultura:

Spain’s debt-laden companies and households are among the world’s most vulnerable to intensifying credit market turmoil and are already experiencing soaring debt defaults that will hit Spanish banks.
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What could cause problems for banks, and deepen Spain’s economic crisis, is if the rise in defaults is higher than expected and the paralysis in world money markets drags on.
Having run up the world’s second biggest current account deficit, the private sector faces the bulk of debt repayments in 2008 and 2009 as Spain slides towards its first recession in 15 years and cash flows dwindle.
«The banks can survive for at least a year, the principal problem is the level of bad debts coming in,» said Intermoney Chief Economist Jose Carlos Diez.
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«Spanish family debt has reached a dangerous level,» the ASGECO consumer rights group warned on Wednesday.
Since the credit crisis began 13 months ago, the country’s four principal banks and savings banks have reinforced reserves by restricting lending, capturing more savings and selling stakes in major industrial holdings.
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«The problem is that they have removed risk from the banking system and put it in the real economy,» he added. The result, says Spain’s FUNCAS savings bank consultancy, will be a threefold increase in the default rate to around 6 percent by late 2009 and a rise in unemployment to 16 percent by 2010 from a current 10.4 percent.
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Business lobbies and analysts warn around half of all corporate debt is held outside the housing sector and household credit problems are worse than the government admits.
«It’s inevitable you’re going to get more corporate bankruptcies and I’m sure that will swing back and affect the banks,» said economist David Owen at Dresdner Kleinwort. [ .. ] [Guardian / Reuters, 26 septiembre 08. Andrew Hay, Spanish debt default spiral threatens banks].

Las negritas son mías.

• Economía, en este Infierno.