Spanish Property Insight › Forums › Spanish Property Forums › Spanish Real Estate Chatter › Spain’s premier Jose Luis Zapatero expects the ECB… › Re: Re: Spain’s premier Jose Luis Zapatero expects the ECB…
“If you dislike the man, the at least give us an objective reason why you feel this way. I don’t believe for one minute that all of Spains problems can be laid at the door of one politician. He has only been in power for 4 years, a lot of the issues here were started more than 4 years ago!”
I do not dislike him at all. I believe any politician would have behaved the same way as he does.
It is just that Spain and Ireland were very , very happy with the low ECB interest rates (the main cause of property bubble). Now, when the rates went a bit up (but still extremely low), they want to be bailed out by ECB.
The rates were low and the excesses were bigger during his tenure.
Same with Gordon Brown, Alistair Darling is only a scapegoat now.