While Italy is the New Greece, Spain


Book Reviewer
Not that long, thre will probably be an upgrade next month when Spain has elections. The incumbents will get a total whitewash and the conservative (with lots of hidden fascists) PP party will take over. Remember Bush, Blair and Aznar? His party and chosen successor.
However the situation is just like in the UK when Liabore were shown the door and Cameron has proved to be a clueless lump. The incoming lot have no idea and the next PM has the charisma and nous of a boring Gordon Broon. Spain will toe the line as far as possible and do what they are told, as they have done obeying the Merkel dictat.
However there are two further things to take into account.
The first is that the people are at a limit, unemployment is high, and when your benefits finish then that's you totally up the swanee. How much can people actually take before something breaks? There is very little give, the rich still get rich but those that have managed up to now simply can't any longer. Salary cuts are being made in all directions, except the politicians (gestures apart like no christmas bonus in the local Catalan government) and money is tight.
The other thing is more serious, Spain should be a federal state but most Spanish get really uptight if they even think that other parts of Spain don't want to be like them. Try imagining England taking over Scotland and getting uptight when they stamp on the Jock's culture, tell them they are English and the locals protest. At least we never told the Jock's they were English.
That is what Spain has done with the Basques and Catalans. To compensate a bit there are local autonomous governments adding another level of government to the country. In Andalucia it operates much as a Council made big, in Catalunya it acts as a government with a number of people activating for independence. The last Catalan government was a coalition that lasted 8 years and created a huge borrowed deficit that has just come to light. So when the central government told Catalunya that it had to achieve savings targets they were actually unachievable despite the austerity policies put in motion that are causing a lot of unrest in certain sectors. If the Catalans can't hit the targets then Madrid can either fail to hit theirs, or put increased pressure on an overtaxed, overreduced catalan economy.
As things stand if Madrid pressure Catalunya then there will be more agitation for Independence, soemthing that has developed a lot over recent years and may happen if the catalans are pushed too far. Spain's economy couldn't handle that as Catalunya is one of the motors of the economy and is milked for all they can get. Catalunya could probably go it alone quite well, but ewhere does that leave Spain and then the euro?

Doomed? You don't know the half of it. We need to shoot all the politicians and economists and corporate bosses and start again with a new system, this one is severely screwed.

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