Article

2012-07-21 Europe

Huge protests against austerity cuts erupt in Spain

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Posted by Fred 2012-07-21 00:00|| || Front Page|| [1 views ] Top

#1 Spare the rod...

Posted by g(r)omgoru 2012-07-21 03:06|| 2012-07-21 03:06|| Front Page Top

#2 You mean there is no Magic Money Tree(tm)?

Posted by Procopius2k 2012-07-21 08:49|| 2012-07-21 08:49|| Front Page Top

#3 The protesters have a point, although they are wrong on several others.

Spain isn't Greece. Public pensions and graft aren't the primary source of the debt crisis there. Over the last decade+, Spain invested in a lot of major prestige public works and banks invested in real estate projects aimed at selling holiday flats to Brits etc. These have been expensive, often incompleted boodoggles and in many cases are underwritten by the public debt that is now overhanging the Spanish economy as a whole.

Austerity measures will cut deeply into lower middle and middle class workers in Spain, while the EU bailouts will protect at least part of the assets of the real estate developers and banks.

Posted by lotp 2012-07-21 09:57|| 2012-07-21 09:57|| Front Page Top

#4 Public pensions and graft aren't the primary source of the debt crisis there.

But, but, but food is scarce and the colony must be reduced. Kill the soldier ants first. The Queen wills it!

Posted by Besoeker 2012-07-21 10:02|| 2012-07-21 10:02|| Front Page Top

#5 "These measures won't help end the crisis."

Think of it this way comrade. Austerity measures arent the solution theyre the symptoms. Does that help?

Posted by DepotGuy 2012-07-21 10:08|| 2012-07-21 10:08|| Front Page Top

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