Spain’s Proposal for a Job Guarantee

Yesterday I participated in a press conference and gave the first of a series of lectures in Madrid on MMT and the Job Guarantee. At the press conference, Alberto Garzón announced his party’s plan to create a million jobs in a targeted JG: IU plantea un plan de 9.600 millones para crear un millón de […]

Can Pedro Sanchez Save Spain’s Socialist Party?

Last month Pedro Sánchez Castejón was chosen to be the new leader of Spain’s center-left Socialist Party (PSOE).  El Pais called his appointment a “renewal” of the PSOE, although Sánchez seems to have been chosen mainly because he is too young and unknown to suffer from the revulsion most Spaniards feel towards the political establishment. But as the […]

Some Things to Consider if Spain Leaves the Euro

It might seem almost churlish to wonder what would happen if Spain were to leave the euro. The official European position is that the battle of the euro has been pretty much won, and anyone who argues otherwise will be accused of being a euro hater, an Anglo-Saxon or, even worse, a writer for theFinancial […]

Spain: The Market’s Darling

We argue that part of the euro’s rise over the past several months reflects a reassessment of Spain’s outlook.  Many global investors had been under-weight Europe though most of H1 13, favoring the US and Japanese equities.  However, as the PMIs began indicating an economic recovery, foreign investors moved back into Europe. Some hedge funds […]

Eurozone Sovereign Debt: All Quiet on the Southern Front

After a wild ride in 2011-2012, interest rates have settled down on European sovereign debt. For now. Yields on long-term government bonds, Jan 2009 to Nov 2013. Data source: Eurostat. Greek yields fell sharply following the PSI agreement in March 2012, a de facto default that ended up reducing the value of Greek’s debt by 20%. But as […]

The Iberian County

This article explains why Portugal has become the Iberian County instead of the Iberian Country. Catalonia will reach the same status if it were to become independent, myopically speaking. In an increasingly interconnected World, where an unstoppable China in an emerging Asia remains the emerging superpower, and the United States is resisting to let go […]

What We Can Learn From the Basque Country

This article explains what Portugal and Spain can learn from the Basque. The Basque Country is one of Spain’s 17 Autonomous Communities in the current territorial arrangement negotiated in Spain in the aftermath of Francisco Franco Bahamonde’s death on 20 November 1975. Franco was the fascist Dictator who ruled Spain between 1939 and 1975. The […]

We Need Ortega y Gasset Back

José Ortega y Gasset is Spain’s best known philosopher and one of the best philosophers of the twentieth century. This article explains through the review of six of Ortega y Gasset’s essays, the relevance still today of his analysis of Spanish society during his lifetime, his identification of the evils of the Spanish character and […]

How to Fix Spain’s Educational Fiasco

This article explains what for many readers would be quite an extravagant proposal: to bring One Hundred Thousand Indian Engineers to Spain and then Portugal on five year shifts to teach Math and Science in High Schools throughout the territory. For this purpose it is proposed that Spain’s three largest Universidades Politécnicas (Catalunya, Madrid and […]

Germany and the Euro-Surrealpolitik

This articles reviews the theory behind Optimum Currency Areas and the lack of willingness in the European Union and particularly of Germany to lead the process of political and fiscal unions. With Britain maintaining its euro-skeptical status and France and Italy immersed in political crisis, there remains little hope that the Eurozone will ever become […]