Automatically translated from Basque, translation may contain errors. More information here. Elhuyarren itzultzaile automatikoaren logoa

To destroy the virus... spend

  • The gurus of the world economy (the International Monetary Fund, the OECD, the World Bank…) have rejected the dilemma between health and the economy as false and have admitted that the priority is to end the virus. To this end, they have encouraged world economies to spend on this struggle, without worrying about debt ratios over GDP. Those gurus are agile because they know that the economy can't work with the virus.

05 November 2020 - 16:21
Gastatzeko eskatu dute ekonomia guruek, baina zertan? Gaur egun, lehentasunezkoa ez da ekonomia salbatzea, baizik eta pandemiarekin amaitzeko beharrezko gastua egitea (arg. ELGA)

Secretary General for Economic Cooperation and Development (OECD), Ángel Gurría, said that "the dilemma between health and the economy is false, let us not waste any more time... we must use all the resources to deal with and mitigate the pandemic". With the pessimistic experience in managing the 2008 crisis, the War has pointed out the following: "When the IMF says it continues to spend, they have not gone crazy, they understand – and we understand – that the priority is to end the virus. The problem with this crisis is that every passing day it continues to leave an economic, financial and social trail. Spending on dealing with the virus or alleviating appearances is much more productive, more useful and cheaper than letting go and being concerned about debt ratios over GDP."

Governments, therefore, always true to the orientations of these world organizations, are now aware of this. Today, the priority is not to save the economy, but to make the necessary expenditure to end the pandemic: more doctors and nurses, better primary care, better medicalized residences, investing in health products, economic and social mattress for working people forced to leave their jobs, better care for people in situations of social exclusion and for economic and political migrants living in overcrowded conditions.

Meanwhile, they should forget the debt and eliminate the expenses of the Pharaonic works (TAV, San Sebastian metro, new Guggenheim...), as well as all the expenses related to the military industry that are still growing unintelligible.


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