Government threat: the Bank of Spain demands good behavior from the governor when wanting a new position.

Bank of Spain has not been Pedro Sanchez's best friend of late. Reports submitted by the governing body, which for now and until next June is headed by Pablo Hernandez de Cos, continue to expose the economic follies sponsored by the socialist communist government.

But now a new agreement between Pedro Sanchez and Yolanda Diaz opens a new period of challenge to reason in the economy. Shorter work hours, new rent price controls, additional minimum wage increases, etc. will create a tough economic environment at a time when key indicators were already heralding a slowdown in activity.

The government does not want anyone to voice criticism at this time, and it has delivered a message that should reach the governor of the Bank of Spain: 'If Hernandez de Cos wants support to take up an international position after leaving the Bank, he should behave well in the time remaining'.

The government is worried about its economic measures.

It knows that they were agreed for the purpose of unification and not on the basis of economic arguments - in fact, these measures are the antithesis of what the Spanish economy needs. This political agreement announces the end of "restraint" after this government increased the public debt by half a trillion euros; it heralds an "Integral Strategy for Productivity" that envisages the creation of a "National Productivity Council" to "monitor" the private activities of companies.

In addition, it promises the creation of a "Financial Customer Protection Authority to protect citizens in relation to their complaints in the banking, insurance and financial sectors," a communist-influenced mechanism that heralds a series of strikes against financial institutions. It declares that "financial exclusion of certain social groups" will be prohibited; heralds "measures to ensure decent employment and balance between visitors and residents" in the tourism sector; and declares the "application of the Employment Agreement and collective bargaining so that wages retain purchasing power," referring to "information from the Observatory of Corporate Profit Margins (OMB)" - established by the government to determine what profits it considers moral and immoral.

It heralds a tightening of "layoffs," an increase in the minimum wage, and a reduction in the workday to 37.5 hours; and says it will introduce interventionism even through "a Time Use Act which, in concert with all agents of society, will make it possible to move toward a more balanced organization of time between men and women, promoting the well-being of the people and the efficiency of the business and associative sphere. "

This agreement includes "intern status"; tougher "timekeeping tools"; and increased taxes and social contributions to fund all the increases in government spending, "a just environmental transition," subsidies for low-income populations, or all the promised increases in social benefits.