The approval / imposition of the Economic and Financial Plan (PEF) of the City of Madrid has triggered numerous reactions. Beyond pontifications and cross-accusations, this turning point in the economic policy of the capital deserves to be debated with some depth. These notes seek to contribute some reflections to a debate that is fundamental, both because of its repercussions on the municipal movement that prepares its second assault in 2019, and on the whole of the change block.

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