He’s certainly not one to whitewash anything – for instance he’ll criticise the over-dependency on construction, or the desperate need to reduce taxes. But his blog is exceptionally well-informed. Daniel Lacalle.
1 – That the high-productivity sectors have grown and developed during the crisis in an exemplary manner with almost no additional credit.
2 – That despite a “strong” euro Spain exports more than ever.
3 – That the greatest mistake of the Spanish crisis was doubling the bet on the construction bubble with “counter cyclical” spending sprees, which have enlarged the hole and repressed healthy sectors with tax increases, while credit is monopolized by public administrations.