In recent months we have often heard that the world is entering a new economic crisis. There are indications of this. The price of oil has never fallen from 120 to 34 euros. Basic metals are very cheap in world markets. After a slight drop in unemployment rates, it is feared that they will rise, although they are already high in the Spanish state or in Greece. Interest rates cannot be further lowered, as they are close to zero or zero and there is a small margin for them to be effective. The banking system has also been severely affected by debts, particularly in the European Union (EU) where Italian and Greek banks have entered bankruptcy, not forgetting that Deutsche Bank fell in losses of 6.7 billion in 2015.

Certainly, the Chinese economy is the one that influences demand for oil and basic metals, and there are indications that its economy is slowing down. This economy has had double-digit growth rates in recent decades and has been rapidly industrialized, so it's present in most global markets. This expansive growth is about to hit the ceiling and has to address a new model in which domestic consumption and the tertiary sector will have to take on a leading role. New growth rates are expected to fall by around 6-7 per cent.

This type of phenomenon is not unknown to us. Something like that happened to us about 50 years ago. On the occasion of the Spanish Economic Development Plans, in the Basque Country, and also in the Spanish State, the two-digit growth rates were based on the uneven development of the industry. Years later, the industry hit the roof and has since done nothing but lose jobs.

To explain the low oil prices, it must also be borne in mind that the supply of this fuel has increased and Saudi Arabia has been particularly strong in explaining the shape of the new monarch and leaving out of competitive prices the fuel that can be obtained by fracking, as well as harming rivals such as Russia, Iran or Venezuela. In recent times, we have to take into account the additional supply of Iranian oil. The amount of oil on the markets is therefore very high, which has reduced its price.

And between us what? In Hego Euskal Herria we have not yet overcome the stop started in 2008 and we have before us the next contraction. In such a situation, there are no effective public policies for channelling unemployment and the parliaments, both in the state as a whole and in the autonomous communities, have not taken the issue of employment seriously. It must be acknowledged, incidentally, that the results of the employment commissions of these parliaments, at least so far, have not been very positive: it has been limited to increasing the flexibility of jobs and strengthening precariousness, leaving the main concern of the majority of citizens unanswered.

Our rulers meet from time to time with big employers to talk about employment. In the meantime, these entrepreneurs only make job cuts. By way of example, we have cuts in the employment of banks, Telefónica, ACB (Arcelor-Mittal), TRW and many party companies. Now we will also include Tubes Reunited. However, our political leaders are always ready to give and subsidise powerful entrepreneurs.