Today in Spain, hundreds of thousands of demonstrators flooded the streets of various cities to protest work reforms introduced by the country's conservative government, such as reduced unemployment payments and a more flexible workforce. UGT and CCOO, two of Spain's largest unions, called for these rallies ahead of a planned general strike on March 29. According to these unions, these reforms will worsen the current economic situation in Spain because companies will find it easier to fire employees under the new economic legislations. One protestor was quoted saying "I came because I'm convinced neo-liberalism is driving us to disaster." While the government hopes their reforms will boost job creation while simultaneously reviving the economy, Spain's unemployment rate is the highest in the developed world at nearly 23%, with the rate at almost 49% for people under the age of 25. In addition to his labor reforms, the president of the Spanish government, Rajoy, has announced spending costs of 8.9 billion euros, which include a public sector wage freeze and tax increases on income, savings, and property.
Questions for Jaime: What combination of factors has lead to Spain's current economic dilemma? Are these issues due to the residual effects of Franco-ism and Spain being thrust into post-modernity Europe without having gone through an extensive period of modernity themselves?
Questions for Discussion: Do you believe this "trickle-down" economy/Reaganomics will stimulate Spain's economy? Why do you think such a capitalist economy works in the United States, but not in other countries? Is it due to the constant influx of immigrants with sufficient savings to start small businesses and whatnot that keep the economy dynamic? How exactly would such a rightist economy work in Spain, which possesses socialist principles in their taxation, health care, etc?
Additionally: How is it that a girl sitting to my left at the cyber cafe just got Rick Ross-ed? How did Rick Ross-ing spread to Spain?
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