When the alarm doesn't sound
España se endeuda sin coste político y traslada el pago a generaciones que aún están por llegar al mercado laboral
Spain's public debt has increased by 600,000 million euros since 2018. Despite a low risk premium, the country's debt is expected to reach 123% of GDP by an unspecified date, similar to the current level in the United States. The debt is attributed to factors such as high pension spending, which is expected to be sustainable until 2050 according to the AIReF, and a system that incentivizes current spending over future financial stability.
Experts, including Stanley Druckenmiller, warn that Spain's low political cost of increasing debt may lead to a "generational robbery" where future generations bear the burden of current spending.
Written by urgent.news from El Pais Economia's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
