Hence, in  the graph of the Bank of Spain, is pictured Trichet, when in July 8, 2008 rose  rates before everything fell apart.

A great guy, Monsieur Trichet.  Sadly he don’t have any idea about economy. Do you see the “beak” seen in 2008, which raised the rate from 3.75% to 4%? Do you see? Thanks to the loyalty to truth of Statistical Department of  Bank of Spain we can see it. 


Because, if we watch to the ECB … in the second box, you can see what  it published.

The ECB seems not to accept easily  its shameful, hiding in its official page  that the 8 July 2008 the official rate was increased from3.75% to 4%.  Jumping  cleanly over the top event, and hidden to searchers the decision. Here, official web page where the outrage is confirmed.

Hmmmmm, little as in the communist regimes they were costumed, when anyone fell into disgrace, “to clear him of all the official  pictures! (after running it, of course).
A mistake repeated in their publications, I suppose. Can we trust such people? In any case, a confirmation that the decision was a huge mistake.


About miguel navascues
economist. 30 tears in the Bank of Spain following US´ and other economies.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: