We do not have official data from the Basque institutions, but we do have data from the French and Spanish states. For example, according to data from the Bank of Spain, gross savings rose in the second quarter of the year to EUR 38,996 million, 174% more than twelve months earlier. Despite the fact that family income has fallen by 8.8% (around EUR 200 billion), consumer spending has also fallen by 24% (EUR 132.222 million in the second quarter). Forward and uncovered balances have increased by EUR 47,500 million from January to EUR 877,500 million.
On the contrary, if we photograph reality, we will see that almost a third of the workers most affected by the crisis do not have a month of disposable income and, moreover, live in debt with the banks. There are many young people and women who have precarious contracts, and at the moment, instead of saving, they are getting more indebted. It's the picture of the difference.
Without consumption there is no economic recovery, businesses do not produce, jobs are destroyed and more precarious. Savings rot, oxidize and lose value. Large companies do not want to resort to own funds, demanding public rescues, maintaining the policy of privatisation of profits and reinsertion of losses. If there is a public rescue, at least nationalize them.
The Araba, Bizkaia and Gipuzkoa Foral Haciendas have just extracted the data from the collection, and we have seen that they have received more money than ever before. They soon announce that they will take the necessary margin for reflection on tax reform, because there is no... [+]
The Consumer Price Index (CPI) declines back to its position in the case of the Spanish State, which is already below the 2% established by the current economic doctrine. The evolution of underlying inflation is slower, but, well, policy makers have been satisfied and announced... [+]