Princeton Professor Angus Deaton, who will be tomorrow awarded With a BBVA prize.
In line with theory of clairvoyant Paul De Grauwe , Deaton sees clearly and encourages us no to lose time with incorrect solutions.
Deaton's Decalogue:
1. Spain is a victim of the economic chaos that exists in the European Union (EU)
2. This is a crisis created in Europe.
3. The solution to all problems facing the Old World cannot come exclusively from Spain.
4. The EU must step forward and try to find a joint solution.
5. Austerity is not the answer to the economic crisis.
6. Member states should agree to cut the austerity and increase investment
7. Europe should continue to promote education, public health and maintain their infrastructures
8. The Euro has a structural problem that will not disappear for many economic efforts to be made. The only thing that can be raised now is the European fiscal union, leading to the creation of a European government. This would cause a loss in democratic control of internal affairs-and will never solve the problem of unemployment. So it's a solution, but is it what we really want?
9. The output of the crisis will be very slow, but remains optimistic and think that very soon this difficult time will be only a historical episode more.
10. National administrations should not worsen the situation by lowering the investment in public health. A direct relationship between improved public health and development is proved. A healthy population work harder and get more revenue.
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"Estrecho de Gibraltar", Tarifa, Cadiz, South of Spain; at the end of the picture: África--; by elholgazan, at flickr.com