Yesterday “Fundación Rafael del Pino” celebrated the conference of Ricardo López Murphy an Argentine economist and politician.

The ex-Minister of Economy made a brief comparison with his country crisis at 2001 and Spain actual situation. He detected two main causes of the Spanish case: the hidden debts of the financial system and the pension deficit. The principal difference between both countries circumstances is the fact that Argentina didn´t had any structural problem, like Spain has.

Another important fact mentioned by the politician is that, before anyone could think in crisis, Germany was more productive than Spain and even though Spain decides to raise the wage more than his northern neighbor, one of the most important antecedents of the current situation.

One of the ideas exposed by Ricardo López which I really want to keep is the recommendation to better decrease wages rather than fire employees, in order to avoid wasting resources.

I invite you to analyze and truly ask ourselves if we will agree to earn 30% less so everyone could have a job, and if it so, could we be able to pay all our accounts and live properly?

Share your comments,
Luisa Sousa

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