Diaz undermined the Bank of Spain by saying that his speech “is not based on data” and “sides with political choices”.


The Vice President accuses the Bank of Spain for questioning the growth of employment. He accused the body of producing a speech “without data and with an ideological bias”, which called for moderate wages and pensions.

The government's second vice president and minister of labor, Yolanda D.
Yolanda Dazu, the second Vice President of the Government and Minister of LaborXavier LizzyEFE

Yolanda Diaz, Vice President and Labor Minister, appeared in Congress today to take stock of its reforms and outline proposed changes to labor matters in the rest of the legislature. He did this on a day when the jobless number fell below three million for the first time since 2008, drawing criticism from the political parties present in the Labor Commission as electoral.

Díaz has voiced his speech, citing two matters: the criticism made today by PP President Alberto Nez Feizu about the quality of the jobs being created and, on the other hand, the analysis and economics released yesterday. offer Bank of Spain Governor Pablo Hernandez de Cos.

“Just as there are those who have shown that they do not know the static nature of a discontinuous definite contract (with reference to Feijoo), I am surprised that the Governor of the Bank of Spain (Hernández de Cos) does not know how to differentiate between employment and contract and this is quite serious”, he later dismissed the institution’s opinion, saying: “If an institution like this doesn’t know how to recognize it, it’s because we’re not very good, but we’ll do the necessary pedagogy.”

Díaz continues his confrontation with Hernández de Cos, also pointing out that his speech is not based on data or “science” and that “he sided with political alternatives.” “I am concerned that this institution does not speak to the data: 92% of the new jobs created are in private companies and it is serious that this institution does not know this data. Hence, the claim to have a negative gap in public employment With regard to the EU, what you have said baffles me and I am mistaken. Sometimes institutions favor political alternatives.”

To complete his response to the Governor’s speech, the Vice President continued with a request by the Bank of Spain that the Executive reconsider the realignment of benefits with the CPI. “We are going to re-evaluate them as per the law with the actual CPI”, he promised. “That institution should know that it is only a small percentage of people who have maximum pension. The earning of SMI is like this and that a pensioner who earns a lot of money does not suffer that is not supported by the data. .. his views are not subject to data rigor and other forms of bias that are not convenient in the Bank of Spain” Dazs said.

The vice president continues to differ with Governor Hernández de Cos that wages are the “cause” of inflation in Spain and has insisted there are “margins” for companies to “co-responsible”. In his opinion, in a country with very low income, wage moderation (raising wages below inflation) would lead to more poverty among workers and affect the economy. “I don’t agree with the wage moderation strategy,” he assured, before confirming that the income settlement proposed by President Pedro Sanchez last April for companies and unions has failed.

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