Due to widespread panic and closed credit markets this year, yesterday in London Santander came out with its financial figures. And it came out on top of many others. The lender will see its credit in Spain drop by 3%, a rather high figure that practically assures that others will also have to turn off the valve to their credit as well.
So the credit drought affecting small and mid-size companies the most will continue. Unfortunately, we are dealing with a logical period of correction. During the bonanza, our country took on a deficit of 10% that should be corrected for if we want our economy to get back on a path to sustainable growth.
