ZP says house prices can only go up

ZP, aka “Mr Optimistic”, has told CNBC (the US business channel) that house prices in Spain have reached rock bottom and can only go up.

He added that he has managed to change the international perception of Spain’s debt and that this mean Spain’s economy can only grow from now on.

“The international markets had an exaggerated pessimistic view of our national debt” he told CNBC’s Maria Bartiromo, “but we have changed their perception and they now view us in a more realistic light, allowing investment to flow back into the country”.

He furthermore claims that he’s cut public investment by 30%, public salaries by 5% and reorganized the national debt to allow Spanish banks to help let the economy re-invest and expand. “I expect the national debt to shortly fall to just 3% of our GNP” he said (apparently with a straight face). “Spain passed through a rocky patch but we are now stable and in an enviable position for future growth”.

Land of milk and honey, here we come…. Where’s my biscuit?

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