First Greece, Now Spain

A month ago (Jan. 14th), I wrote about the Greek tragedy unfolding due to severe economic depression. Now Spain is experiencing pangs from austerity.

from Reuters:

Unemployed Spaniards raid two supermarkets in one of the poorest parts of the country in a vivid sign of growing discontent with Spain’s deepening economic crisis and government austerity plans.

from The Guardian:

Austerity is already harsh in what has traditionally been the continent’s most euro- enthusiastic country. Unemployment, now affecting one in four workers, is set to continue well into next year.

from Mac Slavo at

In Spain, a country that just a few years ago was heralded as a shining example of real estate entrepreneurship, international tourism and a rising middle class, the situation is so bad that many are unable to meet the most basic necessities for life.

Social safety nets across the continent are visibly under stress and breaking down, so much so that unemployed Spaniards have begun raiding supermarkets in order to put food on the table. As recently as last month the people of Cadiz and Sevilla, which have a reported unemployment rate of 32%, joined together to loot local grocery stores of three tons of food – some of which was distributed to local food banks.

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