Spain: poor get poorer as ruling class squanders millions /FRFI 231 Feb/Mar 2013

Fight Racism! Fight Imperialism! 231 February-March 2013

The Spanish economy is stagnant, and all international reports agree that 2013 will be another year of recession with unemployment set to rise further over the coming months, to 26%. However, the conservative Rajoy government is pushing ahead with its programme based on cuts to social services and handouts to the corrupt banking sector, reaping benefits for themselves from the privatisations they demand. As a result, waves of protests and strikes continue to sweep across Spain, and in the last months these have involved underground workers, rubbish collectors, students, airport staff, university professors, civil servants, hospital staff, lawyers and many others. JUANJO RIVAS reports from Madrid.

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Spain: Resistance and direct action/FRFI 230 Dec 2012/Jan 2013

FRFI 230 December 2012/January 2013

Spain’s economic turmoil continues, throwing into question the EU’s ability to produce a way out of the crisis. The Spanish 2011 deficit has been revised up from 8.9 to 9.4% making it impossible for the government to meet its target of 6.3% of GDP. The EU bailout along with financial help to the banking sector has propelled Spanish public debt to a record 80%, which could reach 90% in 2013, the highest rate for a hundred years. Before the economic crisis struck, the figures showed Spain as having a low debt and a budgetary surplus. But the end of an economic period which had been based on a property bubble and the taking on of the losses of strategic banking entities brought serious problems for the country’s accounts. JUANJO RIVAS reports.

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Spain: resisting austerity and police brutality - Nov 2012

Spain’s economic turmoil continues, throwing seriously into question the EU’s ability to produce a way out of the crisis. The Spanish 2011 deficit has been revised up from 8.9 to 9.4%, due to the state’s funding of private banks, making it impossible for the government to meet its target of 6.3% of GDP. The EU bailout as well as the financial help to the banking sector has propelled Spanish public debt to a historic high, which could reach 90.5% in 2013, the highest rate for a hundred years. Interestingly enough, before the economic crisis struck, the figures showed Spain as having a low debt and budgetary surplus. But the end of an economic period which had been based on a property bubble, and the taking on of the losses of strategic banking entities, brought serious problems for the country’s accounts.

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Spain: Following in the footsteps of Greece /FRFI 229 Oct/Nov 2012

Fight Racism! Fight Imperialism! 229 October/November 2012

On 6 September, German Chancellor Angela Merkel met Spanish President Mariano Rajoy to discuss the Spanish crisis and issue instructions to her counterpart. On the same day, the European Central Bank (ECB) agreed to buy unlimited debt of any eurozone member which requested financial aid; ECB President Mario Draghi stated that any recipient would be subject to ‘strict conditions’. Four Spanish Autonomous Communities have already requested funds from the central state. It is only a matter of time before Rajoy’s cabinet is forced to request a new bailout. JUANJO RIVAS reports.

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Urgent letter from Spain

Protest in Spain

We are living through dramatic times over here and I feel compelled to write to you, with the hope that you can spread the truth. Thousands of Spaniards, with more each day, seek work in your country and may get involved in discussions with you on the streets about the situation in Spain.

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