The increase in Spain's risk premium -which has already reached 127 basis points after rising 50 so far this year- is one more indicator of the

current fragility of the Spanish economy

, especially vulnerable after the withdrawal of economic stimuli announced by the European Central Bank.

Suffice it to remember that one of the most important bottles of oxygen that we received, the purchase of sovereign debt, underwent a drastic cut in May with a

reduction of 90%

, and this will translate into more

higher demands from investors.

Although the current levels of the risk premium are not exorbitant, Europe has already issued a warning to the government chaired by Sánchez: from now on, any cable that Brussels throws at Spain to prevent the country risk from reaching stratospheric figures -such as those 610 basis points July 2012-

will entail the obligatory assumption of compensatory conditions

not yet specified by the European authorities.

The lack of a solid economic project

continues to undermine Brussels' confidence in our country

.

Only the launch of the

structural reforms

that the Government is repeatedly asked to do could contribute to recovering Spain's prestige as a relevant player in the economic scenario of the euro zone and, most importantly, to get us out of the tail end of the recovery.

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