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Memo - Assignment Example

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The government has been forced to use austerity measures to cover the huge national budget deficit. After a big EU bailout, the government of Spain has been asked to use…
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Memo assignment
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Extract of sample "Memo"

Spain Central Bank Chief Warns on Budget Targets By Jonathan House Wall street journal: October 04 Link: http online.wsj.com/article/SB10000872396390444223104578036282570952580.html?mod=WSJ_economy_LeftTopHighlights
Executive Summary:
Spain’s economy has been in a lot of problems of late, with recessing gripping the economy at the throat. The government has been forced to use austerity measures to cover the huge national budget deficit. After a big EU bailout, the government of Spain has been asked to use austerity measure to reduce its deficit and bring the economy to its feet again. However, the government has adamantly refused to reduce pension expenditure like it has been asked by EU, arguing that doing this will hurt the economy even more, especially with the rate of inflation expected to go up after energy prices go up.
Economic Topics
Inflation
Market stimulation
Fiscal policy
Austerity
Analysis
In an economy that is suffering from economic crisis, austerity is not an option for the managers of that economy. However, even as austerity is chosen as a way to bring the economy back to its feet, it must be considered that that some aspects of austerity may actually lead to more dangerous outcomes for the economy. This is what Bank of Spain Governor Luis Linde is arguing in his speech to the parliament is trying to explain (Jonathan, 2012). If for instance, the government reduces pension to pensioners, the ripple effect in the economy would be increased inflation and decreased market confidence by both local and foreign investors. For this reason, it is increasingly important that the government know exactly what to do in order to avoid making a bad situating even worse. Linde argued that for budget for the coming year will have to be optimistic as this is the only way to recreate confidence. This is true, considering that what the economy is looking for in investor confidence to allow increased economic growth.
Works Cited
Jonathan, House. Spain Central Bank Chief Warns on Budget Targets . 04 October 2012. 08 October 2012 . Read More
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