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June 21, 2010



What a complete piece of nonsense. The question is how someone so ignorant and prejudiced against Spain is allowed to write at all about matters he does not know anything at all. To start with, Sir, you are talking about the ninth largest world economy and the sixth largest world investor. According to the OCDE Spain was in 2008 the second largest investor in Latin America, the fourth in the US and the second in the UK. Spain has top multinationals: Telefonica is the second largest world integrated telecom company; Banco Santander is the eurozone largest bank and the fith world biggest, Acciona, Iberdrola or Gamesa are among the top five firms in reneawable energy, Zara is the second largest retailer, seven out of the world ten largest infrastructure companies are Spanish, and so on. Besides, you do not even know to compare numbers. Look at the public debt levels: standing at -11,5% and 68%, the levels of budget and public debt in the UK ( not to mention in the US) are higher than in Spain (11,2% and 53%). Besides, Belgium (96,7%), Germany( 73,2%), Austria (66,5%), France ( 77,6%), the Netherlands (60,9)and other nordics have higher public debts than Spain. Are they PIGS, APES or another kind of species?. As to education, two out of the world five best Business Schools are Spanish. Spain is the most popular country for receiving Erasmus students ( but I doubt whether yopu know what an Erasmus scholarship is)
And finally, ignoramous, Germany is borrowing proportionaly more money from the ECB than Spain. Look at the numbers before writing.

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