Thursday, 21.06.2018
 Daily news from the Canaries and the islands' biggest English language newspaper on-line
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Daily news from the Canaries and the islands
   Daily news from the Canaries and the islands' biggest English language newspaper on-line

Crisis: real or imagined?

In recent months, newspapers and politicians have been pretty much in agreement that we are suddenly facing an international financial crisis.

It would seem that almost overnight economies have gone from being healthy to lying prone on their death beds. In Ireland, for instance.

Out of the blue, there is talk of catastrophy and share and house prices are plumetting. Here too all is now, apparently, virtually doomed. Or is it? The lurch from boom to crisis seems to depend on a variety of factors, not least perceptions and expectations.

So are we really facing a time of hair-shirts and belt tightening or is all this talk of financial abysses little more than political cant and posturing?
Pictures: 1 - 2 - 3 - 4 - 5 - 6
Achim, Puerto de la Cruz

Having an inflation rate of four percent, you can only talk about a crisis. Until now it was just glossed over, but now the disaster is obvious. The gross domestic product is down everywhere in Europe, which means people do not spend money in their own country and that leads to a tilt. Some of it is caused by the high oil prices and this is linked to politics. This has to be changed; if not many small companies cannot survive. Either we have a crash or a boom. I think this situation will last for at least three or even five years more, and  it might even get worse.



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