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Ear to the Ground

Ailing Spanish Economy Seeks a Cure

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Posted on Dec 3, 2010
Flickr / Hector Lopez-Berges

A sign in a Madrid shop earlier this year reflects the Spanish situation: “This is how they’ve left us with our ass up in the air.”

Awash in debt and 20 percent unemployment, the Spanish government on Friday approved an austerity package aimed at reviving its moribund economy.

While the news gave markets a lift, labor unions are howling and threatening a series of strikes. —JCL

CTV News

The moves include plans to sell off a 30 per cent stake in the government-owned national lottery, the partial privatization of airports, cutbacks to a key jobless benefit, tax cuts for small businesses and an increase in the tobacco tax.

“We believe we are contributing to the momentum of the country’s economic activity with this reform package,” said Economy Minister Elena Salgado. “We are eliminating obstacles and reducing costs.”

The latest measures, first announced Wednesday by Zapatero, were welcomed by both markets and the European Union after weeks of speculation that Portugal and Spain could follow Greece and Ireland in needing a massive financial bailout. ing to convince markets it can handle its debt and won’t need a bailout from the European Union and International Monetary Fund like Ireland and Greece.

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By eir, December 4, 2010 at 4:36 am Link to this comment

Yes, we are all connected to the oligarchical thieves who run the world.  We are their suckers whose life’s blood makes their lying, thieving world go round, and we will be until we say “enough” and re-impose Glass Steagall.  Until then, expect to transfuse this dying system with your last drop, peasant (see The Cat Food Commission for details). 

Who are you to question THEM?! 

We are all connected (and not in a “We Are the World” kind of way)

Our National Nightmare in Gaelic (and Coming Soon in Portuguese, Spanish, Italian, etc…

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By Anarcissie, December 4, 2010 at 1:31 am Link to this comment

gerard—I don’t think the ruling class knows how to fix anything while keeping themselves in power.  So they’ll settle for just keeping themselves in power.  I consider them to be hopeless.  We’ve got to work starting at the other end of things.  I do think a lot of people are waking up.

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By PatrickHenry, December 3, 2010 at 8:38 pm Link to this comment

Washington DC sent a 300 million order for metro cars to Spain.

Could have used that order in the U.S.

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By gerard, December 3, 2010 at 5:05 pm Link to this comment

What Wikileaks shows as much as anything is something we already knew but as yet almost nobody is thinking our way into—the fact that the world is now one united citizenry with no effective economic system and no just government. Read the news from Spain, for instance, and it sounds just like the news from the U.S. War, connivery, lies,theft and exploitation are a drag on everyone.
  Take Canadian news from Spain, as just one small example:  (From CTA 12/3/10) “In May, when markets were spooked by the near-bankruptcy of Greece, Spain cut wages for civil servants, froze most retirement pensions, and made it easier and cheaper for companies to lay people off. Zapatero’s SOCIALIST government also pledged to reform the pension system by Jan. 28, and is likely to raise retirement age from 65 to 67, an unpopular move that sparked a nationwide strike in September.
  “The government hopes to raise euro9 billion (US$11.9 billion) by selling a 49 percent stake in Spain’s airports in a deal that would also shift the management of Madrid’s Barajas and Barcelona’s El Prat airports to the private sector.”
  Same problems—same answers, because, of course, the same “system” (which isn’t working except for a few super-rich) is world capitalism, private enterprise at the expense of the public good.
  Note that even the Spanish “socialist” doesn’t evidence any signs of change.
  It would seem that the entire world is waiting with bated breath for someone—anyone—with a creative idea about how to release the world from its nightmare of “private enterprise” and figure out a way for ordinary people everywhere to have a chance to share more fairly in the world’s potential providence.
  Hello o o o o !  Is anybody listening? Or are all the “best minds of this generation” enthralled by self-deceit,  helpless in the face of the obvious?
  If WikiLeaks doesn’t shake us loose from our dreaming, nothing will. (Sorry to intrude with another “we”, but if you’re human you’re a part of the problem—and the answer, of course.)

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