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press releases / Living Hall

I have somewhat abandoned this blog recently because I am more in another blog In Bolmir , and today I leave here the last post written text in that blog. How local politicians spend years of business, go-arrogant-neighbors, and go - when difficulties peek-a "request arnica" to the regional councils more prone to cronyism.

Our mayor has made a quantum leap relevant: we have moved from the "news" written from dictation and published by the authority in the area of the provincial newspaper [censored us] to the press release issued by any counseling Santander. This is the case of press releases that plays Europa Press dated Thursday May 12 [ Industry ] and today May 13 [ Environment ].

We congratulate , it appears that steps are taken, or maybe not? and this news is once again "smokescreen."

Maybe the mayor has found one of these days, it has been perceived, that certain issues are are moving and that is not exactly behind the movement. Therefore has been forced to travel on successive days to Santander and has obtained such press releases / commitments.

here I make some clarifications to the first press release [of hours of Industry] and the Mayor, and one of the paragraphs indicated:

Likewise, the counselor told municipal officials that "ordered" the drafting of a project to develop the road linking the village of Bolmir and, across the river Izarilla, connects the industrial area of \u200b\u200bLa Vega and Reinosa.

right, is what we are asking a group of neighbors - use the Right of Petition, in letters sent to Mayor of Enmedio Campoo on 13 January [unanswered], and President of the Government of Cantabria twice, most recently on 13 February [no response].

Therefore we welcome the progress in the negotiations but we do not give a blind eye until We answer in writing and / or see the work.

politicians of his school, the English party politics, are used to saying one thing and its opposite without interruption, without flinching. One day we will say that milk is orange and the other that progress falls from the clouds, so they can write paragraphs like the one played Europa Press:

On , the councilman said the council has asked the Ministry of Environment a bike lane with a new bridge over the river Izarilla. And procedures are being made to the Municipal Local Development and Promotion of the Municipality of the capital de Campo (Emuprosa) to get an assignment of four meters wide, which would provide an alternative way to travel between Bolmir and Reinosa and shorten the distance between both locations.

The bike lane is up to you, the neighbors have not asked. As for that "procedures are being done" to Emuprosa, this is a recent, very recent ... Since you in response to another letter our on March 1 that such proceedings were rejected within his jurisdiction, and so we stated:

"In response to your letter of March 1, 2009 will communicate the following: All writing is oriented to the territorial and municipal powers Reinosa City Council who must go, to clarify their proposals. "

Perhaps you've started doing paperwork at the request of EMUPROSA [company marketing plots of the industrial La Vega], after the airline may receive instructions from Madrid state public entity SEPES, after having written to the chairman D. Marcos Vaquer last March 2 and the mayor of Reinosa on 23 March. On April 6, 2009 we went to newly appointed Minister of Industry , with which you have just interviewed and says a good friend.

of four meters What is our business: that is the width for the corridor we requested to Sepes, Mayor of Reinosa and the Industry Minister, but before we had asked you .

What the footbridge over the river Izarilla is up to you, we will have requested but not sponsored by Mr. Short.

Finally, you will believe "Adam"-the first of creation, and creation begins as we are going to put up the road. The road has always existed, now with more twists and turns, with more mud in the rainy seasons and snow and more obstacles, you cut to urbanize the polygon. By the way what have you done Mr Children, all these years, in relation to the path of Bolmir to Reinosa? We see We have done our homework.

So to get medals - the thing that has eggs - and to hide their responsibilities, such as writing inaccuracies: " which would provide an alternative way to travel between Reinosa and shorten Bolmir and the distance between both locations. "

For those readers who want details on this matter can click on letters and / or mayor.

SEPES 2MAR09 VAQUER

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interview with Mario Conde

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The future of pensions

Eduard Berenguer article today in La Vanguardia Sunday May 3 [via: Comfia ] :

2025 contributions collected by the system will insufficient to fund retirees

04/05/2009 - The intervention of the governor of the Bank of Spain to the committee of the Toledo Pact, which announced the bankruptcy the Social Security system in 2025, has caused a huge alarm. From their statements there have been numerous interventions trying to calm the population. In short, it is agreed that by the date specified by the governor (year, year less) contributions collected by the system will be insufficient to finance the cost of future pensions, but guaranteed they will continue because of the additional funding will bring the state from the interest generated by the current reserve fund and from general taxes collected. In this sense, Spain will only follow the model of other countries in which some time ago that the contributions are not sufficient to cover pension expenditure.

we call the failure of the system is not simply a consequence of the Social Security model we have and that is based on the known distribution of the contributions collected among pensioners, conceived as a system Intergenerational solidarity in which the children (contributors) support to their parents (retired).

This system breaks when changes in the population pyramid caused by the decline in younger cohorts because of the reduction in birth rates and lengthening the life, that determine the aging of the population or when productivity is low, as this prevents further growth of contributions.

Unlike other countries, in Spain We have succeeded in delaying the process because of the massive incorporation of women in the younger generation into the labor market and the arrival of many immigrants. But to the extent that the contributors of today are the pensioners of the future that does not stop to be addressed future challenges in good time and that must examine what reforms to carry out short and long term.

In the short term it makes sense to concentrate efforts to secure improvements in the amount of minimum pensions and widow's pension, if only because pensions are a key element that many people need not to fall into a state of poverty. But while there are other aspects to consider. Two proposals seem to be taken into consideration. First, address the situation of those who have gone through some kind of record of employment regulation and have seen their pension decreased because the amount is established based on your work history for the past fifteen years. These pensioners should be offered the chance to choose their best fifteen years when calculating their pension.

Second, our system being sharing, should be taken into account the number of children who have had the potential pensioners. There is no doubt that families have more children contribute to the stability of the system that have had fewer children. French law, for example reflects this fact, and pensioners who have had three or more children receive a pension increased by 10%.

For long-term reforms, the options are more open. There are countries like the UK or Germany who have chosen to gradually increase the retirement age to 67 years. Others, like France or the U.S., their pensions calculated on the entire career. The most extreme example is the case in Sweden, where since the 1999 reform the pension is calculated on the capitalization of all fees paid so that at the time to retire this capital gives rise to an annuity calculated on hope of life left to the receiver. Other countries such as Denmark, pensions down into two parts: a guaranteed minimum for all pensioners and other career-dependent, where the secured party is charged from age 67.

It can be seen the menu of possible reforms is mixed. For what should we decide? The answer is for giving it to the social partners within the Toledo Pact, attempting to avoid the politicization of the design of our pensions. In any case the design will be conditioned by the burden on future pensions in terms of GDP and the ability of each system to collect taxes. But a summary of the various models is always an interesting alternative. Here, this would involve combining and extending working life to a greater number of career years when calculating the pension.

The latter is the most difficult. But some of us remember the angry reaction that took Nicolás Redondo in the first term of government of Felipe Gonzalez when he proposed to amend the calculation of pensions. Then it came to pass in the last two years of wages to eight years to calculate the base salary. We are now at 15.

Eduard Berenguer, Professor of Economic Theory UB.

La Vanguardia

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Our request to Mr. Sota

This post is originally posted on my other blog In Bolmir.

the ineffable After news of the last published March 30 in the "provincial service daily of the political caste [the readers of this blog already know what I mean, just read the post that day] had to ask the new Minister of Industry for the accuracy of such information, and we have made in writing dated April 6, 2009. We await your response and especially solutions .

Our Question:

1 - the 30th of March, the Journal published the following headline Montanes : "Industry is funding the upgrading of road links and Reinosa Bolmir." Without more detail, according to statements by Mayor Enmedio Country. Is this news is true? Would that advice you chair will assume the cost of recovery and rehabilitation of road Bolmir to Reinosa?

2 - If the news is true, how is it possible that the Ministry of Industry is involved in rural land, in what at first appear to be a competitive action of the director Mr. Mazon: public works, roads public, land ...?

3 - What is the amount of work and when it is scheduled to run?

4 - Could do some counseling aimed at managing the segregation of a corridor of at least four feet wide from the river Izarilla to the sidewalk on First Street industrial area La Vega in the municipality of Reinosa and the proposed assignment or sale of the land parcel adjacent to the northern facade of New Castilla Doors - not yet built on it - where elapses now provisionally the way, to allow the passage of pedestrians and / or cyclists? segregation that has requested such counseling before other authorities?

5 - Has the Ministry efforts to a solution similar to the above: provision of land next to SIDENOR the fence, where it was spent the way?

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A news story that is not [the way to Reinosa Bolmir]

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The brick and political [report Auken]

The Danish MEP Margrete Auken names the Auken report adopted today in the European, the report addresses the impact of English business brick in the interests of citizens, environmental and urban planning, and caste politics, especially PP and PSOE that have attempted to boycott the report in Europe. The Scribd report.

Information obtained from the Confidential :

"Citizens are fed up much dirt in English politics, we are losing confidence in the system and the European Parliament elections are less than three months, "signed by over 600 groups that have joined forces in a joint statement issued on the subject of the boycott among MEPs of PP and PSOE against Auken report on the English urbanism. The report, devastating for the brickbats he has suffered this country, will be voted in the European Parliament plenary session on 26 March.

The undersigned groups criticize the English urbanism puts at defenseless citizens who have the misfortune to be smallholders soil, whether rustic or urban and blame him for destroying the country and much of the historical and cultural heritage of Spain. Also doubt the regional laws, which offer no guarantee of fairness and justice.

also criticized the regional planning laws, and even the State Land Act, institutionalizing the figure of developers, responsible for the abuses and atrocities that have occurred in implementing the land laws. And do not hesitate to attribute to this urban predator responsibility for the crisis, recession and economic depression living Spain, and the dramatic evolution of unemployment.

Reviews political corruption and Justice

corruption associated with urban policy does not escape criticism. "We can boast of something internationally, being one of the most corrupt countries in Europe," they say. The paper highlights that in the midst of the recession-depression we suffer, the major political parties are dedicated to airing their dirty laundry, which are many, as the corruption that afflicts us is attributable mostly to politicians at all levels in active , assigned to these parties, because politically it is more profitable to sink the rival to solve the problems of the English.

Similarly the Auken report, people cry out against the English courts, which was branded as slow, expensive and, worse, is tainted by political influence. "The English would like to enjoy a law that truly was an independent power, separate and distinct from the executive power, but powerless witness the sad spectacle of the shameful scramble who lead the major parties to control the formation of organizations such as the Constitutional Court or the Council the Judiciary, reported.

complainants groups, among which are Urban Abuses No, Citizen Advocacy Coordinator Planning and the European Harmed by the Coastal Act, specifically criticizing the Coastal Act, passed more than 20 years, who "plays with the rights of the English."

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Inflamed Carlidge In Knee

Judge Garzón earned a substantial income during their stay in the U.S. and the Supreme Court considered that it might incur in default for failing to declare this income to the General Council of the Judiciary. It is what it touches.

Along the way you forget the origin of such funds - the Banco Santander, which is why the attorney Panea filed the application. That does not touch.

News in The Confidential

The controversy surrounding Baltasar Garzón continues to grow. The Supreme Court has denounced a car that the judge of the Audiencia Nacional hid the General Council of Judicial Power (CGPJ) recovery of $ 203,135 during his stay between March 2005 and June 2006 as a visiting professor at New York. Garzón took leave of "teaching and research" to participate as a director, moderator and speaker at a lecture organized by the King Juan Carlos Center at the University of New York.

The judge withheld the salary he would receive to get study leave, as it also continued to gain his basic salary of the Audiencia Nacional. So says the Supreme Garzón CGPJ not informed the "perception of salary through payroll, merely referring to suffrage bills." The High Court also stated that "the amounts received would exceed the limits set by law 53/1984 of 23 December , for the course of activities authorized for support to public office ", even" assuming that implicitly includes such license compatibility. "

Therefore, the Supreme Court stated that "should refer evidence of this resolution and the documents received on the matter to the effect that the General Council Judiciary considers appropriate. " CGPJ will now decide the punishment for this fact Garzon, considered a "very serious."

El Centro Rey Juan Carlos I assumed the payment of travel expenses Garzón worth $ 21,152, and the education of the daughter of the judge at the United Nations International School in the amount of 21,650 dollars. The University paid $ 160,333.14 Garzón by way of salary.

The order of the Supreme responds to a complaint by lawyer Antonio Panea , filed in June 2008 in who accuse Garzón of bribery and malfeasance. According to the complaint, the Santander Group sponsored the conference moderated by Garzon, and on his return to Spain, the judge promptly filed a complaint against Santander, although initially considered that it had "characteristics that presume the existence of a criminal offense. " The Supreme Court has not found any relation between two events, and has rejected the existence of any relevant criminal conduct Garzón. However, the Supreme Court itself has found that Garzon punishable hide their remuneration in New York.

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Recession That does not touch and handling information

The English economy increased its rate of decline at the end of 2008, a more steeply than anticipated in our scenario of autumn. Moreover, the contraction was extended to segments of the economy so far remained relatively untouched by the recession. Cyclical time and the prospects are characterized by three elements bearish bias. On the one hand, the fall in global economic activity. Secondly, a more expensive credit to finance the private sector. These two factors have a close connection with a financial crisis and walks toward the two-year, but is a turning point towards their resolution. Third, the English economy is still burdened by the downsizing of real estate. These are all elements that combine to have large destabilizing power and inevitably lead to a recession.

However, the downturn in the economy is going to be cushioned by the existence of other three elements, in particular, affect household income and positive shocks. This is the case of interest rate cuts, fall in inflation and an expansionary fiscal policy will help to limit the decline in spending and employment in 2009. The output of the recession will be relatively slow given the expected long period of deleveraging of the agents, the absence of an external environment dynamic enough to drive English growth and the limited effectiveness of fiscal stimulus to boost the economy in a permanent and autonomously.

Source: Journal Status BBVA Spain in March 2009 SEE

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Death Anniversaryinvitation Of My Mother

On Saturday 14 February several thousand people gathered in the Plaza de Colon in Madrid, called by the platform of the middle classes . Sunday 15 does not appear any information from such a statement in the newspaper El Mundo. On this subject he writes Javier Benegas as recorded minutodigital.com

The supposedly more militant and courageous of all how many have been baptized themselves as "opinion makers", Peter J. Federico Ramírez and Jiménez Losantos, they were hoarse this past Saturday 14 February. After years of claiming a title defense on the right without complexes and pure strain of liberalism, they never shut up, the spokesmen of the kingdom, as journalists have become suspiciously quiet and timid when he played pull demonstrate conviction and courage to bear witness an act of popular sovereignty. But, oh, surprise, proved to be so conveniently blind and deaf as its most reviled rival newspaper.

It is time to tell Frederick that his diatribes masquerading as dignity and courage, are merely tactical moves awkward, sometimes hysterical, that stink of opportunism or panic, as appropriate. And in their frenzy to make ammunition at the same rate as the wastes, the essential strategy makes a good reach. When a piece moves in terms of timing, the current interest or simple compulsion, the game becomes a succession of absurd plays, the final result can not be another disaster. And in this disaster we are and to make matters worse, broken. And, meanwhile, by the way go all the hardcore stranded, those same citizens who were injected with a persistent stimulating sequel is more painful as a chronic inability to think for themselves.

have to put black on white and begin to open their eyes, though many find it particularly painful. The serious situation in which we demand so there is no time now for more confusion. It should be clarified. Federico has had the means and opportunity to lead a good part of the English civil society in pursuit of legitimate objectives. But far from bringing the people well, has generated enormous including fractures and irreconcilable antagonisms, while contributing as little to the fundamental debates were reduced to a "you take off that I get me", without showing any willingness to challenge the parasitic caste in itself but, quite the opposite, making himself along with Peter J. Ramirez system agents, to serve a very specific and to the benefit of themselves.

some time now, Federico and Pedro J. Jimenez Losantos Ramírez, both mounted, mounted therefore necessary collaborators have been a sort of alliance midway between "Limited" and "Joint Venture Company, to promote and make performance each and every one of the causes that can be handled and sold as products suitable for mass consumption. An alliance unworthy, boastful and arrogant that has claimed the power on and off king in order to gain media empires in the best interests of both. This, and ultimately could be as lawful if it were not for that purpose have been used as mortar decaying remnants of the most noble causes and have been pleased to award citizens the role of expendable pawns.

At this point, it remains to ask them to go and clear the road. We can not afford to continue losing time in quarrels between factions, interests and privileges. Spain speed ahead towards the abyss, and if Spain will fall down with it all.

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Stock Options in times of crisis

Curiosa information offered by Alberto Valverde Capital Madrid on stock options and other compensation of high BBVA address, in times of crisis and losses for shareholders. Thus, with impunity, and can pontificate about the reduction of severance pay to workers paid employment on the labor market flexibility and reducing employer contributions to Social Security. Read the full article Capital in Madrid.

Alberto Valverde .- The crisis is not going by some financial institutions, though its shareholders have suffered a fall in the value of their titles to almost 70% in the last two years. Such is the case of BBVA, whose management team will propose to the shareholders' meeting next March 13 in Bilbao, a new equity compensation plan long term for themselves, which will run for just two years. Sources solvents ensure that the new plan will be very similar to the force since 2006 to 2008 and that has meant that while shareholders saw their investment plunge to new lows BBVA, managers receive in full the so-called "stock options", something that, at least aesthetically repugnant to most painted. In addition, the president of the second financial institution in the country has accumulated since arriving from public Argentaria (which had no such program), a pension plan of 72.54 million euros, an average of about nine million per year . Only in 2008, Francisco Gonzalez amassed a fee of almost 20 million euros for all concepts. Ejcutivo is the highest paid in Spain and probably in the European community.

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In ball ..! Looking

on how to spend the money of the Local Investment Fund, what could be done and not done. Post originally posted on the blog In Bolmir .

to his ball ... So is the mayor de Campo de Enmedio, Cantabria, accustomed as it is to make her a frock coat. Queimadelos journalist published today an article in the Daily Alert of Santander, with a rehash actions to be undertaken soon in relation to works in the village of Bolmir, linking the implementation of some of them to the Local Investment Fund.

From everything I read there can not find anything that the neighbors requested in writing: Mazón counselor twice-lights, soundtracks dissuasive crossing, pedestrian crossings, "the president Revilla - Recovery and Rehabilitation Bolmir way to Reinosa, "and the Lord Mayor himself Hijosa also requesting Recovery and Rehabilitation Bolmir way to Reinosa with exceptional funds could be obtained from the State Fund Local Investment.

And now we come to that is to change the lighting when, at best, it takes more than a dozen lamps, with the argument of modernity and progress, or the "modernez" "will improve the street lighting that will affect almost all public and aims to achieve better economic efficiency, avoiding light pollution and get to save up to 50%, will respect the environment and installed by technical personnel and in accordance with the standards. It supports change, lights, lamps and equipment. The budget is 9.2270 , 63 euros and will employ four workers, one from the municipality. "

Where are the works that will come calling, again and again, Recovery and Rehabilitation Bolmir way to Reinosa? Unless paragraphs I play have anything to do with what we have been asking for, and if so, why not call things by their name:

"Bolmir State Fund benefit significantly, as it improve an urban street paving in a lamentable state, an area of \u200b\u200b500 square meters and a budget of 22,000 euros, the execution time three months for the whole municipality and in which two people work the council and 18 of the company. This street will be used by pedestrians do not have to go through the center with the consequent danger . "

What danger lurks except the absence of traffic lights and pedestrian crossings and stubbornness of our politicians ? What street is this to be fixed? Is it a stretch of road may Bolmir to Reinosa, and if so it will not be given a name?

"From the Ministry of Environment have been ordered the order 30 for sustainable mobility, construction a bike lane that allows a Reinosa Bolmir go through the estate of Vega, accessing the new road and through him to Sidenor, Gamesa and Reinosa, is intended to play sports, to communicate with work, be safe, ie need a car. "

That solemn bullshit! contentious issues as dress!

Reinosa

Let the road because all life we \u200b\u200bhave and because we have no public transport bus that unites us with the capital de Campo. We have been powerless as political apathy of many, of different administrations, in 2006 built a warehouse on the way Bolm to Reinosa, and we cut off the passage through a fence across the river Izarilla. We are still waiting to see some action by our local and regional efforts to recover this way. And politicians can not be held accountable as they continue to work work.

Why not use the money normally wasted on the purchase of lands adjacent to the company's New Castile Doors industry was built on the way, in its northern facade, to ensure permanent step pedestrians and "riders" to the streets of Polígono La Vega? Or to fund a public bus service to provide evening and then to the people of the City Council with Reinosa?

Lord Mayor continue in that line ... while you can. Ignore the requests of the neighbors. Continue this model of deliberative and participatory democracy "as many politicians in our party politics. Keep thinking that the neighbors will not do anything, and we're just here to pay taxes and the election day.

neighbors will continue moving to the President of Cantabria Mr. Revilla our requests and concerns, and the minister will ask Mrs. Salgado detail of the works related to the Local Investment Fund to make in our people.

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guilty ..

The crisis was not only a slowdown is now a monumental economic crisis halfway between recession and depression, if there is such a place, "and now plays blame. Already used to Bush, Aznar, the international financial system, globalization, the "greed." So far that plays blame the disaster to the bankers.

is true that some responsibility must have bankers, but that write in another post.

In this campaign against bankers happens, the way of what we have seen so often in movies of police, namely police minister makes a good, Solbes, and other done wrong, Sebastian; depending on when they say one thing or the contrary, in a well organized series of interventions: Zapatero at the rally blasts banking Lugo, the Minister Solbes in the last meeting with the bankers to appease, the Minister Sebastian one day on the radio after he runs out of patience you have with the bank, Mr. White later said that the PSOE has a lot of patience ..

no mistake: the policy of the Government of Spain will have all the patience in the world with bankers. Who else is going to finance political parties, including the PSOE, and then write off their debts?

impatience Since when? Why not explain that so quickly earmarked EUR 250,000 million in loans and guarantees for the banking model as conceived by the bankers themselves.

impatience is sure of anything, and I guess that used to be like a news item published by the newspaper El Mundo on 19 January:

The bonus to bankers appealed to the Supreme Court

technicians Finance (Gestha) yesterday filed a complaint with the Supreme Court challenging the tax cut of 25 percentage points, from 43% to 18% for managers and partners of banks and savings on securities yields obtained in their own financial institutions.

The newspaper reported that the Cabinet had introduced this bonus to bankers by surprise, sly and retrospectively, in a final provision of Royal Decree which implements the law of prevention measures tax fraud.

As this newspaper also advanced, Gestha decided to challenge the decree, published in the Official Gazette on 18 November, as the index of the Council of Ministers yesterday did not include the correction of this reduction.

Gestha demand is based on the excess of the decree. Technicians believe that paragraph two of the third final provision, under which modifies the taxation of those responsible for credit institutions is illegal and seriously undermines the rule of law as it went beyond the provisions of the Income Tax Law, to the extent that a regulation can not amend a higher law, as the government can not subvert, through a Royal Decree, agreed by Parliament.

also Gestha states that this change of taxation is an unfairness to the other businesses and sectors to consider that benefits of large shareholders banks, members of its senior leadership, and their spouses and parents or children through third grade.

The organization also added that this measure generates a positive discrimination between financial institutions themselves, as it affects only the directors of banks, but to a much lesser As the directors of savings banks and rural banks, who are appointed by election or representation and generally do not possess great fortunes.

Finally, Gestha considers that this provision is somewhat paradoxical, since in the last income tax reform of 2006, all united their savings income tax to 18% by establishing a single exception where Shall financial transactions between individuals involved in your company outside credit or not, that would taxed at a marginal rate corresponding to avoid situations like that now the government carte blanche.

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"the crisis will begin in 2010 and will be really brutal, terrible teacher

Santiago Niño Becerra interview published in La Vanguardia on October 3, 2008:

Santiago Niño Becerra, born in Barcelona 57 years ago is a man who speak clearly. Professor of Economic Structure, is a professor in the Faculty of Economics IQS Universitat Ramon Llull. Believes that the world economic situation is going to go "tends to get worse" over the next three years and that all measures are being implemented will not be used because they respond to an old manual that has become obsolete.

- Are we in crisis?
"No, he goes. I'd say we're in "pre-crisis." The crisis began in mid-2010. But it's also what comes next and what will not look anything like what we experienced in 1993 or 2000. This is another film, is a systemic crisis. To resemble anything, it would seem to crack the 29 ".

- Why is a systemic crisis?
"Because the way it is running the system has to change. In 1993 there was a problem, was injected in the form of credit money and ran. In 2000, the same thing. Not now. We use an old manual no longer works. Have exhausted the tools that were launched as the hyper, the hipercrédito or hiperdeuda and pass to another movie ...

- When did this "pre-crisis"?
-In September 2007 when it said the subprime problem.

- And how long will it last?
"It lasts until June or July 2010. The trend within this period will be worse. This does not mean that one day the stock goes up or another down. In 2010 starts the real crisis. Fall "to lead" until mid-2012. There will collapse economically, and will be worldwide.

- What will happen after 2010?
-During the period 2010-2012 the level of drop is brutal, terrible. There will be economies will suffer greatly, for example English, German, U.S. or China. There will be a period of stagnation until 2015 and, from there, begin a slow recovery period until 2018-2020. We're talking about a period of 10 years, similar to the "Great Depression" American of the 1930.

- Capitalism has come to an end?
-The collapse of the capitalist system has not yet been produced. The systems have a lifespan of 250 years. Capitalism began between 1815 and 1820 and will end more or less in 2070. What we now live is a crisis of adjustment, as in 1929. The characteristics of capitalism will not change but the adjustment will be very important.

- What are the possibilities we have to weather the storm?
"Nothing. This has to happen. Is inevitable.

- But citizens have no option to try out less affected?
"I always recommend that if you have debt, not deeper in debt. Who does not have, do not get into debt and if a person owes money and money saved, which I dedicate to debt reduction. Another thing is that before you buy anything, people will ask if you really need. Calculating well what are the expectations of their income and adjusted expenditures. What is not necessary, is not important.

- Are there many companies can bear this situation?
"No, there will be closures in cascade. The evolution will become worse and, after 2010, will accelerate.

- Blame it on the banks and real estate?
"The fault is not a person or group of people. The measures taken have led to disaster. But if these measures had been taken, had not grown as it has grown. And we've all been very pleased to grow well.

- Will banks go bankrupt?
"Yes, but if a bank failed then nothing happens. The problem is that, in a scenario like this, that a bank is a torpedo drop to trust. The system we have assembled is not cables attached to titanium, is attached to something as intangible as the confidence that, when broken, can no longer be repaired.

- Is it a good decision that governments use public money to save business?
"It will not do. Has to be done because the model says that is what should be done. This is to plug a hole, but will open another. We are talking about numbers so brutal that it is impossible to have enough money to cover all holes.

- How will we know we're out of the crisis?
"The recovery will be perceived in the environment. The first sign of recovery will not go into 2012 because the worse. The second sign is Some people start to do things.

- The result of this crisis is the emergence of a new economic power?
"I figure I think the state will go to less and that large corporations have more power. I think General Electric is the first corporation of the future, is a case study. In the future there will be more efficiency, order, development, ...

- Major corporations such as those in the film "Rollerball", which posed a future in which large corporations controlling the world?
"Yes, that's it.

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