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Spain

This category contains 22 posts

Wealth inequality in Spain deepens as poorest get poorer and corporate profits soar, new figures show

An analysis of tax data in Spain shows how austerity and labour market counter-reforms have slashed the wage share of the country’s wealth to new lows while corporate profits have soared. The findings by economist Gabriel Flores published in online newspaper Nueva Tribuna are: Labour income has declined as a proportion of GDP from 50% … Continue reading

Paradise Papers: a view from Spain

By Rafael Simancas From the Panama papers to our very own Royal Castellana papers, and now the Paradise papers. The scandals surrounding tax avoidance and large-scale tax fraud follow one after another with increasingly astronomic sums and ever higher profile protagonists. But beyond superficial analysis and frivolous commentary, these behaviours deserve a rigorous assessment, because … Continue reading

Catalonia: The problems and errors of the independence movement

By Vincenc Navarro* Catalonia is experiencing the greatest social and political crisis, and soon also economic crisis since the democracy returned to Spain. I have previously written on the dimensions of the great social crisis in Catalonia, the greatest in this century and the end of the previous one (“El mayor problema que tiene hoy … Continue reading

Why workers need a pay rise: View from Spain

To overcome economic crisis Spain needs an economic policy aimed at raising wages, among other measures. Just the opposite of the policy applied by the Popular Party, recommended by the Bank of Spain and imposed from the EU Troika, argues Fernando Luengo* For reasons of equity. It is not fair that the costs of the economic … Continue reading

Catalonian elections – a matter of faith

Pro-independence parties are set to take power in Catalonia in elections Sunday that could pave the way to secession. Julian Maganto* makes a plea not to let emotions decide. On Sunday the Catalans choose their representatives in the regional Parliament. In a year that is so electorally significant in Spain as this one, in which there have … Continue reading

Spain: the power and reach of the banksters

Any move to fix Spain’s economy will necessarily involve curtailing the influence of bankers, those well-heeled types who speculated big on the housing market that then went bust, bringing the economy down with it, and which continues to drain extraordinary amounts of public money paid for by ordinary citizens. Unfortunately, this isn’t going to be … Continue reading

Spain: Public Spending – Not Guilty

Falling revenues, not excessive spending at root of deficit, a new report shows Excessive public spending is not responsible for the poor state of Spain’s public finances. Instead it is the fall in revenues that came amid cuts to spending in Spain and elsewhere. This is the conclusion of a new report by Fundacion 1 … Continue reading

More pain in Spain

Yet another European government has been claimed by the bankers’ crisis on the continent. This time it was the turn of Spanish prime minister Luis Rodriguez Zapatero’s Socialists. The landslide victory of the Popular Party was widely predicted in polls – as was the devastating defeat of the Socialists. The Socialists’ 110 seats was their … Continue reading

Spanish elections – not just a two horse race

It’s been widely seen as a two-horse race between the incumbent Socialists and main opposition Popular Party, but Spain’s parliamentary election on Sunday will likely see a strong showing for the communist-led United Left. Despite promising the same failed austerity medicine pursued by the Social government over the past 18 months, the right wing Popular … Continue reading

Spain’s United Left unveils economic ‘shock’ plan

Spain’s United Left, the third largest national party, has announced an economic “shock” plan to create more some 1.5 million jobs in two years by investing in greening the economy, protecting the environment, tackling the housing crisis and boosting essential public services. Unveiled 10 days before parliamentary elections, the plans include creating 300,000 jobs for … Continue reading

Spanish bankers are having a good crisis

Spanish bankers have boosted their incomes by 50% since 2004 according to a study by Comisiones Obreras, the Spanish trade union central. The most flagrant excesses relate to banks that have received large amounts of public funds, according to union, which heaped much of the blame on supervision failures by the Spanish Central Bank. The … Continue reading

Spanish occupy movement faces electoral test

by Tom Gill Spain gave the world the ‘indignados’, the movement of ‘indignant ones’ that become a global phenomena October 15 when millions from dozens of countries took to the streets. Yet less than a month from general elections in the home of this momentous street rebellion, it is as if nothing ever happened. On … Continue reading

Spain’s ‘neo-liberal coup d’etat’

 Spain’s lower parliament has passed draconian legislation enforcing a “balanced budget”. The law, proposed by the governing Socialists and supported by the right-wing opposition Popular Party, is now expected to be passed without delay in the Senate. The law calls for a balanced long-term budget to be enshrined in Spain’s constitution, allowing for the deficit … Continue reading

“It’s not a crisis, it’s the system”

By Tom Gill  “No es una crisis, es el sistema! (“It’s not a crisis, it’s the system”): this was the key message the indignados sent to their politicians as they returned in their tens of thousands to the centre of Madrid last weekend. Hundreds had arrived after a month long journey on foot from 50 odd towns … Continue reading

Spanish artists and intellectuals call for “reconstruction of the Left”

Film-maker Pedro Almodóvar and a number of other leading Spanish artists and intellectuals who were once supporters of Jose Luis Rodriguez Zapatero’s governing socialists have signed a manifesto calling for the “reconstruction of the Left.”. The manifesto, also signed by radical journalist Ignacio Ramonet, says: “The discrediting of politics, the repeated complaints about corruption of … Continue reading

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