AS Spain’s future becomes ever greyer, analysts are diving into the past to uncover what went wrong.
If only they had a time machine to transport them to Valencia to stop the construction of its many white elephants or to town hall meetings to curb corruption schemes before they were hatched.
But alas, science still has not caught up with the movies and time machines only exist in the fictional realm of Back to the Future.
So while it is vital to understand and learn from the mistakes of the past, the greater emphasis for analysts and policy makers should be on the present and, even more importantly, the future.
Otherwise, while our eyes are set on the past, we may collide with the future and make the very mistakes we sought to avoid.