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View Diary: Italy's New Government: STOP Austerity Now. Time To Push Growth. Halle-frickin-lujah! (78 comments)

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  •  he is fighting for survival (12+ / 0-)

    in spain, things are truly horrendous as everyone knows, but the spanish are not docile. Public support for the PP has all but collapsed. They have been shown to be thoroughly corrupt by the Barcenas affair. Not that people didnt suspect it anyways, but it coming at the same time as the height in joblessness is deadly. Problem is that the people havent forgiven the PSOE either for having been in power when the crisis struck. New parties are rising - the UPyD and the IU and others - and the spanish landscape is shifting and it is conceivable that the people take to the streets. On paper, Rajoy has a safe parliamentary majority and the new elections are far off but in reality his power is slipping.

    Yet, there is no turning back. Spain has lost about 30% of its industrial jobs during the crisis. This is not going to come back. Even Keynesians in power could do little against it (they don´t have the means the US would have and they can´t start a war).

    •  "This is not going to come back" (1+ / 0-)
      Recommended by:
      Ian Reifowitz

      There's no way to objectively prove this assertion. Unless you can, of course.

    •  adsf (4+ / 0-)
      they don´t have the means the US would have
      and never will, but if Spain left the euro it would have a lot more flexibility in dealing with this crisis. I would argue that if Spain would have not been part of the euro the crisis would have been a lot less harmful.

      As for corruption, Spain is mired in corruption. The only party that has avoided it so far is UPyD, but I attribute that to the facts that it is a relatively new party and they don't hold any significant real power at any level, national or local.

      The PSOE is also very corrupt. Perhaps not as bad as the PP but still a huge amount. Currently there are over 1,600 politicians under indictment in all of Spain, and many of those cases are rather big. Just one example, yesterday the son's of the former mayor of Marbella, Gil, were ordered to return €100 million. This is the kind of corruption that goes on in Spain.

      "The great enemy of the truth is very often not the lie -- deliberate, contrived and dishonest, but the myth, persistent, persuasive, and unrealistic. Belief in myths allows the comfort of opinion without the discomfort of thought." -John F. Kennedy

      by basquebob on Tue Apr 30, 2013 at 03:22:19 PM PDT

      [ Parent ]

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