Hugh, E. (2014) “Spain and the IMF: Round the Bend or Out of the Woods?“, A Fistful of Euros-European Opinion Blog, 15 Ιουλίου.
“Spain has turned the corner”. With this stark statement the IMF opened it’s annual Article IV consultation report for 2014. Naturally the statement rankled, with this author among others, because at first sight it seems to be saying something which on closer reading of the report you find it isn’t. At best it’s misleading, possibly from a PR point of view intentionally so, but then Article IV reports are supposed to be more sober, measured assessments. One Spanish journalist summed up the surprise many felt in the following tweet.
Dear IMF,
You can’t say “Spain has turned the corner” and “the unemployment remains unacceptably high” in the same paper
It’s silly
Yours,
C
What I suppose the authors of the report were trying to convey was the feeling that an important turning point had been passed along the long winding road out of the mess that was generated in Spain in the first seven years of the Euro’s existence. Personally I can’t help feeling the expression would have been none the less prosaic and much more complete had they added the line from a well know Jimmy Cliff song yet there are still “many rivers left to cross.” Equally, “not through the rapids yet” comes to mind.
Σχετικές αναρτήσεις:
- Flesher Fominaya, C.(2014) ““Spain is Different”: Podemos and 15-M“, LSE EUROPP, 04 Ιουνίου.
- Díaz-Giménez, J. & Olsen, M. (2014) “The Future of Spain (2014 and beyond)“, Κείμενο Πολιτικής, Παρατηρητήριο για την Κρίση, 07 Απριλίου.
- IMF (2013) “Spain: Financial Sector Reform—Fourth Progress Report“, International Monetary Fund, Country Report No. 13/331, 22 Νοεμβρίου.