PAUL KRUGMAN vs. the Kingdom of Spain: it's the Chart Wars!

So essentially the issues is this one. Spain’s economy will not recover, and return to growth till Spanish products become more attractive in price terms, and this only means one thing: some sort of internal devaluation is inevitable, and all the talk about an exclusively fiscal correction is simply an attempt to get rid of the smoke without going to the trouble of extinguishing the fire which is producing it.