Noah denkt™  -
    Project for Philosophical Evaluations of the Economy
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The hypocrites of “El País”
An observation on the real reason why the Spanish economy is slow to turn around, first drafted on April 5,
published in April 7, 2012

    “Los compradores de deuda pública apenas han dado 100 días de gracia al Gobierno de Mariano Rajoy, que este
    miércoles volvió a resaltar que ha hecho “en tres meses más reformas que en ocho años”. Pero ni las reformas ni el
    proyecto de Presupuestos detallado este martes han logrado “recuperar la confianza de los inversores”, uno de los
    objetivos confesos del ministro de Hacienda, Cristóbal Montoro.” El País, 5 de abril, 2012

Check this out! After having fought Mariano Rajoy’s austerity measures every step of the way, after having
supported the Spanish unions’ call for a general strike, after having campaigned heavily against
the labor law
reform project that Rajoy’s government is pursuing to bring down unemployment rate and after forcing the
Spanish government to renegotiate its de-leveraging goals with the EU, the leading Spanish newspaper “EL País”
now has the guts to blame the bad result of Wednesday’s bond auction on
Mr. Rajoy’s supposedly failed crisis
management. Have you ever seen greater hypocrisy than this?
Should it not be “El País’s” first obligation now to accept that it is part of its own work that the PP-led government
had no other option but to soften the deficit reduction goals for 2012? And should the paper not understand now
that it was largely due to its own relentless resistance to any recent austerity proposal that the markets are now
losing faith in Spain’s ability to come to grips with their burgeoning deficit?  But what do they do? Do they show a
sign of contrition, humility or even inflexion? No, not at all! Instead “El País” has no qualms but to go right back to
their old game of whipping up, popular anti-PP-feelings when what is really needed here is unity in the face of
national emergency.

Now, obviously, this outrage of ours should best be leveled at “El País” directly. But since it is our experience that
they publish only those letters that are in line with their overall views ( - which by they way doesn’t stop them from
criticizing the Pope for not meeting up with the victims of church-related child sex abuse…), we have no other
option but to take this right to our own site. Because the matter of the fact is that it is precisely this lack of
honesty, this lack of open-mindedness which the likes of El País tend to show whenever it comes to defending
their own bleeding heart convictions that is the ultimate cause why Spain doesn’t seem to be able to get back on
a growth path. Because it is so much easier, to defend the old ideological alliances, the old cozy ways of securing
one’s income rather then confronting the new harsh realities of an unstoppable global market-place.

So, if you wonder why the markets have lost some of their faith in Mr. Rajoy’s ability to bring down the national
debt, then you need to look no further then to your left.
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