Basta! After two years of reforms, Spaniards are all too familiar with the deadly ritual Europe’s strategy to fight the crisis has become. Every new reform package adopted is praised by European institutions and met with a pat on the back. Then, when recession looms, unemployment jumps again and risk premiums keep rising, Spaniards are asked to face yet more austerity. If and when you question whether the strategy amounts to a self-inflicted recession, you are told not to worry and encouraged to be patient and wait for the results. If faith is defined as the capacity to believe without seeing, Spaniards are being asked to replace politics and...
TAGGED: Spain, Euro, austerity