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Ángel Arrese, Professor of Economic Journalism, University of Navarra, Spain

The scapegoat of the international press

Wed, 17 Feb 2010 09:25:22 +0000 Published in El Economista (Madrid)

It has been suggested that the alarm about the Spanish Economics is the result of the rhetorical excess of the international press, which until recently extolled the economic miracle and now rages against its weakness. It is a fact that The Economist and Financial Times welcomed Zapatero's first term in office, in which the Economics continued to show, by inertia, the "miraculous features" - "of Champions" - that almost nobody questioned. But it is just as true that these two media were increasingly critical of his economic policy as his second term approached. In 2008, The Economist spoke of the "end of the party" and, since then, they have not ceased to highlight the risks of our economic model . It does not seem fair to lay the blame for the creation of the past euphoria and the current alarm on them. It would be better to look for it in the politicians who talk about being in the Champions League or international conspiracies.