The country’s hard-won welfare state system is in reverse gear, with rights and social justice being handed back to charities, as was the case in pre-constitutional Spain.
Spain ‘Most Undervalued’ Stock Market, Tchir Says (Video)
Documental de Paul Mason (BBC) sobre el colapso económico de España.
The concern today, especially for Washington, is to keep the European utopia alive for as long as possible.
Spaniards are now rejecting the cynical confiscatory policies that aim to bailout an insolvent system managed by morally-insolvent politicians.
Esperanza Aguirre’s announcement last Monday that she will step down as leader of Madrid’s regional government comes at a delicate time for Prime Minister Mariano Rajoy.
As the crisis deepens, there is still a window of opportunity for Spaniards to turn to gold as a means to protect their wealth against the risks of increased foreign exchange volatility, forced re-denomination, or even a total currency collapse.
CIS poll confirms PM’s rapidly deteriorating popularity.
I wouldn’t trust anything now until they have a program in place with the ECB.
It is highly likely that the Germans’ resolve against money printing will dissolve in the face of panic.
Spanish Prime Minister Mariano Rajoy’s systematic adoption of policies that are in complete breach of the promises which took him to power only a few months ago are casting doubts on the legitimacy of his political leadership.
As national economic indicators continue to confirm an even more painful future with record-high unemployment and unabated economic stagnation, one can only ask how much longer such stability will last.
The best hope for stabilizing the banking system is an equity capital infusion that is essentially converting German and French borrowing power into equity investments, followed up by more cheap lending to the banks by the ECB.
Our thoughts on the FAQ and what it means – decently positive.
The temptation to fade this Spain deal is high (and higher after Rajoy claimed victory and jetted off to the football match).
Mexico is right to keep an attentive eye on the banking crisis unraveling in Spain.
Debt restructuring is the only way to get the debt under control and allow the policies of spending and austerity to work over time.
As it happened in Mexico 18 years ago, Spain’s banking system’s woes seem to be setting up the stage for a self-fulfilling prophecy of Mayan proportions.
Among the many questions raised by Bankia’s nationalization in extremis, there is one that cannot go unanswered: who is responsible?
The events over the last week have taken Spain’s PM Mariano Rajoy to the edge of the abyss.