It seems obvious that the main reason why Pedro Sanchez decided that José Luis Escriva would go directly from the government to the post of Governor of the Bank of Spain is to guarantee the support of the issuing institution for its economic policies. The degree of autonomy that the Bank of Spain has demonstrated until recently, with the help of Pablo Hernandez de Cos, It was too much for a government president who does not allow it to happen. no institution that operates aloneat the risk of contradicting him or simply denouncing him. The Bank of Spain has done so on occasion and it was precisely José Luis Escriva who, on behalf of the government, abruptly came out to discuss its reports and studies.
This will no longer happen, since the new governor will be in charge of approving any working document that could compromise Pedro Sánchez. The organization’s renowned research department will be controlled with a rigid hand and will become a simple data center whose interpretation will be vetoed by the highest authority, that is, by Escrivá himself, through people he trusts strictly. This will be the first thing the new governor will undertake: to guarantee that there is no document or report in which he dares to express an opinion that could deviate from the government line. That is, blind obedience and zero disagreement. It is the same thing that Sánchez did with the INE: since his control, there has been no data that has not been received by the government with undisguised satisfaction. A complete statistical miracle.
Escriva, from the Bank of Spain, guarantees Pedro Sánchez the peace of mind of not having to worry too much. This is not nothing. In fact, it is a lot. Because from now on, the government will always be able to say that “our economic policies are approved by the Bank of Spain.”
