In retrospect, Spain might be seen as one of the unluckiest ever holders of the EU rotating presidency. A host of unfortunate developments – most not of his own making – have conspired to make the first half of José Luis Rodríguez Zapatero’s six-month term, which began on January 1, difficult and at times hapless. With Spain among the bloc’s most economically troubled members, it was always going to be hard for Zapatero to lead the EU out of recession from the front. Moreover, major institutional changes were implemented just as the term presidency was starting, with a degree of mystery surrounding the new system and its roles, including that of European Council president. As if that were … [Read more...] about The curse of the EU presidency
spain economy
Running on Ẽmpty
A year after Spain’s centre-left government officially launched a massive stimulus package known as the Plan Ẽ, workers are still losing their jobs, public debt levels are scaring markets, and the economy is not likely to emerge from recession until 2011 at the earliest. Plan Ẽ, with its billions for public works projects, tax breaks and subsidies, was never intended to be more than a temporary bandage to get Spain through the worst of the fallout from the international financial crisis and the collapse of the domestic real estate and construction sector. But the wounds inflicted on Spain’s once booming economy have turned out to be slow to heal, and tearing the plaster off - as, for … [Read more...] about Running on Ẽmpty