Spain’s economic problems now form part of such a complex web of cause and effect, action and reaction, that it is getting increasingly difficult for laymen, journalists and politicians alike to get to the core of what is actually happening.
A new video shows grass roots members of Spain’s Socialist Party (PSOE) apologising for the party’s handling of the economy when in power under José Luis Rodríguez Zapatero. Those featured cite the Socialist government’s austerity measures, such as cutting wages and freezing pensions, as among its many mistakes. “We favoured the interests of the few, those who were powerful, over the majority,” says one of the party members. Decisions on social policy are also rued, such as failing to change the religious freedom law, or introduce a dignified death law. The legacy of Zapatero’s handling of the economic crisis has severely hindered his party since it was voted out of power in November 2011 and the PSOE is still struggling to win back voters.
Who caused Spain’s banking crisis? Does it matter?
As economic disaster threatens to engulf Spain, the country’s prime minister faces his greatest challenge. But while Mariano Rajoy seems convinced about the measures needed to battle the ongoing debt crisis, he still hasn’t discovered how to communicate effectively with his electorate – or persuade them the economy is safe.
With the Spanish economy and banking sector creaking under the strain of market speculation, talk of the country needing a bailout, or even of eventually ditching the euro, is becoming more common. But would exit from the euro really be such a bad thing?
The Spanish government’s cuts have included slashing the funds aimed at easing integration of immigrants.
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