Spain ... economy, pain, protests: what's the future?

[Abyss_Rover]

I have been trying to work this one out.

1, Bank repossess. Family in trouble.
2, Family claim any support they can get. Whatever benefits are available, including handouts.
2, Anyone who had work, in the household, would probably not be able to work. More benefit needed.
3, Bank has another property to sell. Higher interest rates for the bank, without any income from it.
4, Property values decrease. Everyone who owns property suffers.
5, because of property values decreasing, more owners default. Banks lose more income.
1,................. mmmmmmmm, seams like a vicious circle.

[Janet]

It's going to get a bit more painful today, I imagine ... another "austerity budget" being announced later .....

there was blood in the streets around Parliament the other day. What'll happen later is anyone's guess.

[El Profesor]

No problem ..... all they have to do is completely renovate the electoral system and impose democracy.

Then invest in the education system and wait a generation.

Sorted 

[Myrtle Hogan-Lance]

They could also stand to do away with ridiculous employment laws (exhorbitant costs for autonomos, contracts for life which prevent youngsters from getting full-time contracts) which decrease competition, stifle innovation and promote corruption. 

[Guanche]

There is a very interesting read on the BBC News web site 'Spanish views on the rescission' Sorry don't know how to do a linky thing.

[Janet]

HERE you go, Guanche 

(When you're in a post box, you should see the smileys above it. Above them are format boxes ... the last one should have a picture on it of a blue sphere. Click on that and it opens up a box for you to put any link you like in. Paste the link in it, close it, submit the post and the link should be there )

[Janet]

Well the press conference was due to start an hour and a half ago, is now on its second reschedule (for 3.30 our time), the Cabinet is in full session trying to agree what they're about to announce (!) and the police are outside firing rubber bullets .....

who said we couldn't be another Greece?

[Guanche]

My wife just said, coming to Spain was the worst thing we have ever done. She is more than a little concerned about our future, the word she used was frightened. I am not sure that this is due to seeing the problems of her family and friends and the dissatisfaction they have with their lot and seemingly unable to break out of the situation for the distant future or the general mess Spain is in but it did surprise me.

[Janet]

scary stuff ... this is Madrid right now, Atocha station ...

[Janet]

Rajoy himself didn't appear, as usual, was left to Saenz ... who spent 5 minutes talking about a car-scrapping scheme and a new milk scheme, and rushed through in 1 minute the fact that they're going to raid the reserve pension fund of €3 billion "for the country's liquidity" ....

that's going to go down like the proverbial lead balloon ...