Spanish Minister: Sooner or Later There will be An Economic, Crisis

The Minister of Economy and Business of Spain, Nadia Calvino, said on Tuesday that “sooner or later there will be an economic, financial crisis.”

Therefore, its goal is to be “as late as possible” and the economy to be “solid and robust” to avoid adjustments of the latest crisis, while advocating that to reduce the deficit is not enough growth and a cut of spending, but it is time to raise taxes before the economy slows down.

“Contrary to what some said 10 or 15 years ago, economic cycles have not disappeared and we do not have to deceive ourselves, sooner or later there will be an economic, financial crisis,” Calvino acknowledged after having a meeting with German and Spanish businessmen in Frankfurt (Germany), organized by the Chamber of Commerce, coinciding with the tenth anniversary of the fall of Lehman.

Calvino has indicated that his goal is for this new crisis to occur “as late as possible” and that by then the Spanish economy will be as “solid” and “robust” as possible to face it in a different way than the last crisis, with a “sustainable” growth so as not to have to re-address the adjustments that “so many blights and so much damage have done to elements such as equality”.