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Spain and Greece

Ideology is first casualty of Spain’s economic crisis

August 30, 2010 by James Badcock 1 Comment

The day José Luis Rodríguez Zapatero’s dream ended was not even marked by a speech from the unlikely new champion of glum realism. As Congress in Madrid debated in late May cutbacks effectively imposed by Frankfurt and Brussels, the Spanish prime minister, who had tended his very personal flame of optimism with so many smiling words, saw his political future turn to ashes without even taking the stand. The Socialist who had vowed to bring the benefits of economically successful Spain to the disadvantaged now looked on as Catalan nationalist Antoni Duran i Lleida announced that his bloc would save the government in the vote to cut public workers’ wages and freeze pensions, but declared that … [Read more...] about Ideology is first casualty of Spain’s economic crisis

Filed Under: Business Tagged With: austerity package, economic crisis, G20, recession, Spain and Greece, spain pensions, spain recession, spanish economy, Spanish elections, zapatero

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