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Iberosphere

News, comment and analysis on Spain, Portugal and beyond

spain banking crisis

Spain’s true crisis isn’t economic, it’s institutional

June 29, 2012 by Guy Hedgecoe 3 Comments

The Spanish Bull's bones.

As Spain has moved closer to what looks increasingly like economic disaster, there have been a couple of surprising - even heartening - moves by the country’s senior politicians lately. One was the announcement made by Socialist leader Alfredo Pérez Rubalcaba that his party offered its full support to the conservative government going into the key European summit in Brussels on June 28. This rare instance of political unity was accompanied by an unusual show of stark public honesty by Prime Minister Mariano Rajoy. “We can’t finance ourselves at these levels of interest much longer,” said the man who had denied that Spain would request a bank bailout days before it did so, and who said he … [Read more...] about Spain’s true crisis isn’t economic, it’s institutional

Filed Under: Featured, Politics, Spain News Tagged With: carlos divar, corruption, Franco, garzón, indignados, judiciary, king juan carlos, Mariano Rajoy, Partido Popular, popular party, spain, spain bail out, spain banking crisis, spain banks, spain democracy, spain economic crisis, spain economy, spain judiciary, spain politics, spain socialists, spain transition

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