SPAIN ILLEGITIMATE GOVERNMENT

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Santos Ruesga, the only member of the expert committee on pensions who voted against the text and Professor of Applied Economics at the UAM, spoke to eighth day on the impact the new pension reforms that was approved today by the Council of Ministers, and has assessed the impact on the purchasing power of pensioners: "If over the next five years, which is quite likely, pensions are revalued only 0.25%, there will be a loss of purchasing power greatly depending on whether the rate of inflation, and to recover this loss of purchasing power in five years we will need about 35 years of economic growth and revenue growth in the Social Security system. " Santos Ruesga also denied that reform is necessary and essential-as the Spanish government, to maintain sostenibiltitat system.