The law that governs the actions of the Bank of Spain It’s called precisely Autonomy Act of the Bank of Spain. Autonomy is synonymous with independence, self-government and freedom; and means the opposite of dependence and subordination, which are their antonyms. The dictionary of our RAE defines autonomy as “the condition of which, for certain things, does not depend on anyone” In its explanatory statement, the LBank of Spain Autonomy Law explains that this independence which must govern the actions of our central bank is a requirement of the European Community with regard to monetary institutions integrated into the European System of Central Banks. It also specifies that the aforementioned autonomy of the Bank of Spain, necessarily imposed by the Treaty on European Union, “requires that the Bank not subject to instructions of the Government or the Minister of Economy and Finance.
And with all these legal requirements, Pedro Sánchez will impose as Governor of the Bank of Spain to someone as little autonomous and independent as his faithful and loyal minister José Luis Escriva. According to the law, his appointment will last six years, which is longer than the length of Sánchez’s stay at Moncloa, and he can only be dismissed “for permanent incapacity to perform his duties, serious breach of his obligations, sudden incompatibility or prosecution” for intentional crime. The official appointment will take place in the Council of Ministers next Tuesday, although it will be previously announced by the Minister of Economy, Carlos Body, during an appearance scheduled for this Wednesday at 3:00 p.m.
When in January 2020 Pedro Sánchez appointed Jose Luis Escrivá As Minister of Inclusion, Social Security and Migration, he was well received by both the opposition and the independent press, bolstered by his career at the head of the Independent Authority for Fiscal Responsibility. (AIReF), organization that he himself had launched on the proposal of the Minister of Finance at the time, Christopher Montoro. From the AIReF, Escriva had opposed the 22% increase in the interprofessional minimum wage announced by Pedro Sánchez. Likewise, he had welcomed the pension reform carried out by the PP in 2013, which Pedro Sánchez had promised to put an end to.
But during the four years he spent at the helm of the Ministry of Social Security and one more that he leads as Minister of Digital Transformation and Civil Service, Escriva has taken it upon himself to destroy all his previous prestige, demonstrating that he only has the capacity to please those who command him. He has personally taken it upon himself to contradict everything he had previously stated regarding our pension system, destroying the reform that the PP, exponentially increase social security contributions and increase pensions with the IPC; issues he had vehemently opposed since the AIREF.
Jose Luis Escriva is only the pleasure of Pedro SanchezAn economist without principles, without dignity or shame, who has already shown that he is capable of doing and saying whatever the person who appointed him asks of him, and that is the only reason why the President of the Government is now going to impose him as governor of the Bank of Spain, an organization that, with Escrivá at its head, will no longer have the autonomy required by Spanish law and European treaties.
