Could Fiscal Amnesty Being Of The Crisis In Spain? Ii-00-6291

By Author: rafalinares
Total Articles: 4351
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People say that there is no credit because the own banks lack resources. Not entirely true, or at least the affirmation takes a fancy incomplete. Banks as we know them today, or at least those who intend to refer, are only financial intermediaries.

If lenders do not invest, how can we change the situation? Are there alternative investors? Can avoid fulfilling prophecy itself, ensuring that the assets lose their value?

Perhaps a black money amnesty may be the solution if we are able to avoid tearing the garments.

In December 2008 the government tried to take the pulse of society about this. Caldera was charged to open the debate. Miguel Sebastian was in favor. Even the conservative Catalan asked a panel of experts in the hope that will not turn off the fuse lit.

But nothing came. Perhaps the Economy Minister Pedro Solbes with his immobility was to blame.

It would not have been the first time that in Spain a measure like that was adopted. Adolfo Suárez in 1977 approved an amnesty for income tax and regulate corporations based on hidden assets.

And in 1991, Carlos Solchaga, as economy ...
... minister, offered to subscribers of Treasury bills with yields not reported to regularize their situation. The options were two: first, to redeem those securities for which called Special Public Debt, tax-free asset and preserving the identity of the investor, although less profitable.

The second posibility was that these subscribers by additional statements from these notes without penalty. This initiative allowed to bring to light around 780 billion pesetas.

If we assume that the crisis we are facing, has its cause in the real estate market, and we share the conviction that the credit flowing again is necessary to recapitalize the banks, why not now adapting Solchaga policy?

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