Showing posts with label spain bailout austerity. Show all posts
Showing posts with label spain bailout austerity. Show all posts

Friday, September 28, 2012

Spain Protests: Madrid Barman Alberto Casillas Becomes National Hero for Defying Police [VIDEO]

Great story.  An ordinary man becomes extraordinary by retaining his humanity, defying the police, and protecting those in peril with whom he does not politically agree.  Viva Casillas!  My faith in humanity stands, at least for one more day..  International Business Times: 

A barman that protected demonstrators form police has become a national hero in Spain, after a video of him driving back riot police went viral on YouTube.
Alberto Casillas, 49, prevented police from entering his café in Madrid, as dozen of anti-austerity protesters had looked for shelter from a charge inside the "Bar Prado", earlier this week.

A video posted online, shows Casillas standing in front of the bar entrance, holding his arms out to protect demonstrators telling police: "On my Life, you will not enter! It will be a massacre."

As police stood back, protesters started hugging and thanking Casillias.

"You, you really deserve credit", "it is you that represent us," some demonstrator told him.

Casillias soon became the symbol of the protests against Prime Minister Mariano Rajoy austerity budget plan that is designed to rescue Spanish finances.


People commenting on YouTube appealed for him to run as President and Casillias' Twitter account, opened shortly after the fact, was flooded by messages of gratitude.

However, interviewed by Spanish newspaper El Pais, Casillas revealed to be a supporter of Rajoy's government.

"Let me be clear. I am in favor of the Partido Popular. I am a supporter and voter of Rajoy, but on Wednesday it went too far," he said.

"There were excessive police forces. I am for compliance with the law, but above the law, there is humanity. I did what I had to do, that's all."

Bless you, sir.  The world will need your courageous example in the upcoming chaotic months and years.  Thank you for providing a stellar example of a humane response to evil circumstances.  Casillas=Hero!

Sunday, August 12, 2012

Belgian National Bank Governor Gets It: Bailing Out Spain "Makes No Sense"

 No one in charge will listen, but it's good that someone finally said something.  Zero Hedge.  Excerpts:

A week ago we explained quite clearly why instead of encouraging self-defeating, short-termist behavior by promising to save Europe's insolvent countries if and when needed, which does nothing to resolves Europe's problems and make it worse in exchange for a brief respite from bond selling, the ECB should be doing precisely the opposite: encouraging local governments to understand that there is no magic bazooka from the central banks. Specifically we said that "this Catch 22 of confounding cause and event can continue seemingly indefinitely, although in reality it can't. Because fundamentally what the bond market does is keep sovereigns "honest" - just as Schauble said a week ago, Spanish yields at 7% are not the end of the world - instead what they are is a signal to the country to get its spending in control in order to reduce its deficit, and fundamentally get its house in order - yes, that means getting government spending to a sustainable level and firing hundreds of thousands of workers, as well as probably raising taxes even more. It also means pain all around, but the pain is inevitable and will only be worse the longer reality is denied." This logic is so clear that only a lifelong economist, PhD or Goldman apparatchik can not grasp it: sadly that accounts for most of the people "in charge."


Which is why we were delighted to read that at least one person "gets it" - Belgian national bank governor Luc Coene, the same Belgium that is also the clogged heart of the Burtonian bureaucratic labyrinth known as the EU, who told Belgium's two largest newspaper that "buying the bonds of these countries would only serve to weaken the ECB and do nothing to resolve underlying issues of competitiveness. “It makes no sense for the ECB to start financing those countries,” said Mr Coene, “It would only lead to the ECB taking on the whole public debt of Spain and Italy onto its balance sheet." Bingo.

Friday, July 13, 2012

Blood, debt and fears: crowds rise up as Spain agrees new €65bn cuts

This time, it's Spain that's heating up.  The Independent.  Excerpts:

The Spanish Prime Minister, Mariano Rajoy, unveiled a fresh round of spending cuts totalling €65bn over two years at a noisy session of parliament yesterday. The measures represent the country's latest bid to convince financial markets that its public finances are in order and prevent a debt crisis spreading to the rest of the eurozone.



At the same time, hundreds of striking miners led a rally which stretched for miles along Madrid's main road in protest over cuts in subsidies they say will destroy Spain's coal industry.


The protesters tossed fireworks and clashed with riot police, who fired rubber bullets, as the unions vowed widespread action for the week beginning on 21 July. The demonstrations spread to the capital's parliamentary building and the headquarters of the governing conservative People's Party (PP).


At least one volley of rubber bullets was fired directly at miners, relatives and sympathisers as they gathered outside the Industry Ministry after marching up Madrid's main north-to-south street, the Castellana.

Expect Spain's tensions and resistance to rise right up to July 21, and then..  It's anybody's guess. 

Society's fabric unravels, unabated, breathtaking in its absolute..  Thoroughness. 

Everything truly is all happening now.