In the word SOFT CREDITS that is bound with the word ICO, INSTITUTE OF OFFICIAL CREDIT, is spoken of a possible intervention of the Spanish State to help the real estate sector. But it seems me that this is illegal, from the point of view of the EU, that sees with very bad eyes the official aid to the private sector. With so bad eyes that, sometimes, force to give back them. The Government English it has decided to nationalize the Northern Rock, Bank that is in very many hardships. Another possibility: that the companies invest. But when people are a little scared, it says: Good, we are going to wait for a little.
Another possibility: that the BCE (European Central bank) does something. Hacer something means that it lowers the types of interest and the inflation worries more about the growth and less than. But the BCE this worried about the inflation, that his President goes off to him and, Trichet has let glimpse that until it could raise the types of interest. Commentary n 11: The other day I read that somebody became pegunta: Who is right: Bernanke (Federal Reserve the USA, that lowers the types of interest) or Trichet, (BCE, that does not lower them)? Then seems to me that they are right both: It is right Bernanke because the American economy has raised a in the last quarterly 0,6% of 2007 and wants to avoid that the country enters recession (two trimesters followed with negative growth.) It is right Trichet because the European economy grows, less than before, but grows, whereas the inflation begins to drive crazy. (Last data: 3,1% for the zone Euro and 4,4% for Spain.) Trichet has let glimpse that it could even raise the types of interest, if the inflation does not lower. WILL ENTER SPAIN RECESSION? They say that no, that is very difficult that an economy that is growing, overnight decreases.