Those of your following this boring blog about Forex, FXstreet.com and my own miscellanea, know that from time to time I publish here things related to my country Catalonia and the growing idea to soon start our own way separated from Spain.
Aside of sentimental, cultural, language and political aspects to be considered here, there is one factor that is pushing more and more Catalans to support the independence idea. That factor is the financial squeezing of the Catalan economy due the insane 10% GDP fiscal deficit it has with Spain, deficit that is sending the economy, in plain words, to hell.
Those that support the independence argue that Catalonia by itself, would be a richer economy that continuing as part of Spain.
Well... Professor of Economics at Harvard University and former IMF chief economist, Kenneth Rogoff, believes that too.
In a recent interview with the Spanish magazine Capital, Rogoff said: "“Spain is a country with many strengths and can not be compared with other countries. multinationals have are excellent, has regions like Catalonia which alone will be one of the richest countries in the world … ".
I can not agree more with Mr. Rogoff
Kenneth Rogoff believes there is a high probability that Europe has...
By Economics Newspaper
Professor of Economics at Harvard University and former IMF chief economist, Kenneth Rogoff, believes there is “high probability” that Spain has to resort to Europe, adding: “If there is no Europe, Spain, and would be going wrong. “
Rogoff argues that the need to resort to outside help respond to the fact that Greece, Ireland, and “probably” Portugal will have to restructure its debt. “And when that happens the market will go crazy and Spain need some relief,” he says in an interview