The Peoples' Party is now going against a law that governs the inspection process for the Bank of Spain, a law which the party defended in the past when it was the opposing party. This political dance looks like what is going on with the single labor contract efforts and failed promises to lower taxes.
Their excuse is that the situation has changed now that banks have central oversight, which has nothing to do with having a procedure that gaurantees that bank regulators maintain a strong sense of indepenence. The issue is fundamental to an efficient and transparent banking system, so it needs to be resolved as soon as possible.
The consequences of a lack of freedome are obvious: inspectors can possibly be removed from their investigations and their overall responsibility can be watered down. The Peoples' Party should table their excuses and take steps to create an independent inspector for the Bank of Spain.
