The Government revolts against the Bank of Spain: Escrivá criticizes the analysis of pensions as not very "sophisticated"

• Crisis The Bank of Spain knocks down the Government's complacency: "We are the great economy of the euro that has done the worst"

The harsh warnings that the Bank of Spain makes in the Annual Report published this Wednesday have not pleased the Government.

And the most visible sign of this discomfort has been evidenced today by the Minister of Social Security, José Luis Escrivá, who has criticized the "

" of the analysis and the warnings that the body makes about the pension system.

Moreover, he has stated that the document signed by the governor, Pablo Hernández de Cos, does not provide "any new element that would make him change his mind about the sustainability of the system."

The BdE asks in its document that retirees also form part of the income pact, that is, that pensions are not linked to the CPI, and calls for "automatic adjustment mechanisms" in the system to guarantee its viability.

Escrivá, in his reply, has been

, since the automatic rules in the fiscal and monetary sphere have shown an "overwhelming failure", according to a Europa Press report.

"It is clearly demonstrated that automatic rules 'per se' tend to fail (...) Central banks have increasingly moved away from automatic rules and towards more flexible rules", has affected the forum 'The work of the future and the future of work', organized by

"It makes no sense to make an automatic rule ten years from now (...). We know a lot about rules. I was president of AIReF for six years, I was responsible for compliance with fiscal rules in Spain.

... Anyway, the automatic rules don't work anywhere," he added.

And on the revaluation of pensions, the person in charge of Social Security added that it is the result of an agreement by the majority of the parliamentary arch, and that "

".

Escrivá, therefore, has staged a new disagreement between the Government and a supervisory body and, in his specific case, another clash with the Bank of Spain.

The latter is something that is repeated over time and that, in fact, was already happening when he was in charge of AIReF.

There were numerous occasions on which he lamented the, in his opinion,

despite the multitude of resources with which and the fact that the Tax Authority, on the other hand, was much more productive despite having fewer effective.

Escrivá's criticism was and is even more significant because he

, and many of the people in charge who have been and are in the organization worked with him.

The current minister, however, has not only had disagreements with the BdE.

He also harshly criticized the

serious projection errors" in the demographic field, which affected all pension forecasts, and that he would stop using his data.

Such was the tone of criticism that the INE, in a very unusual exercise, publicly responded to the then president of AIReF.

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