Spain protests: Young protesters in Madrid and beyond have many different demands, but they are united in opposing the Spanish governmentThis article titled “Spain reveals pain over cuts and unemployment” was written by Giles Tremlett in Madrid, for guardian.co.uk on Saturday 21st May 2011 11.59 UTCThe arrival of the table, a battered piece of formica bashed on top of four rough, oversized legs raised a cry of joy. Never mind that anyone on a normal chair would barely be able to see over the top – here was another small triumph of the new Spanish revolution, the gathering of angry Spaniards of all colours, ages and persuasions that is sweeping across the country and beyond its borders.The table that arrived in Madrid’s Puerta del Sol square was part of the swirl of creative chaos, naive enthusiasm and pent-up frustration that has transformed it into a makeshift camp for thousand of protesters who call themselves los indignados, the indignant ones.Tents and mattresses, armchairs and sofas, a canteen, portaloos and solar panels have sprung up in a remarkable display of organisational prowess. And the mass of people jostling around, each pursuing their own dream or demand, or just watching others doing the same, seemed more like something transported from the Arab spring in North Africa than from Europe.As the protests continued to swell on Friday, with 60,000 people defying authorities to obey the campaign’s “Take over the square!” slogan in dozens of Spanish cities, and with copycat demonstrations across Europe, the question was whether this was the new May 1968 – a youth-led popular revolt against an establishment deemed to have failed an entire generation.Esther Gutierréz, an elfin 26-year-old, wandered through the crowd with a battered shopping cart full of fruit.“We’ve got so much food we don’t know what to do with it. People just bring it to us for free and it’s wonderful stuff,” she said. “We want real democracy. Not just freedom for bankers. You’re not from the Spanish press, are you? We don’t speak to them.”Cynical and ingenuous by turns, the Madrid protesters and those who last week refused to obey orders to budge from the occupied city squares have torn up the rule book of Spanish public politics. The heavyweights of old – political parties, trade unions and media commentators – are not wanted here.“I was sacked when the Madrid regional government closed down a women’s centre last year when it imposed cuts,” explained Beatriz García as she bashed a small frying pan with a wooden spoon. “The unions didn’t even bother to turn up.”The political parties were worse, she said. “There is no renovation. There is nothing new or different, just two parties who take it in turn to govern because our electoral laws favour them.”Just a week ago Spain was known for the passivity of its citizens as they put up with one of the most depressing eras in recent history. Despite unemployment hitting 21%, widespread spending cuts and a socialist government bound to obey the diktats of Germany’s chancellor, Angela Merkel, and the financial markets, they had refused to show their pain. Marches, sit-ins or riots were for the French – or British students. The real drama, anyway, was in North Africa. Spaniards stayed at home.All that changed this week as demonstrations organised via Facebook and Twitter became static protests in city squares, mushrooming into something that caught politicians, unions and the media by surprise.While journalists were following the dull routine of campaigning for Sunday’s municipal and regional elections, the steam was beginning to escape from a pressure cooker of discontent.Many Spaniards had told pollsters they were tired of the same, well-known political faces – especially those who are due to be re-elected despite being mired in corruption scandals. Politicians have rarely been held in such disregard, with the prime minister, José Luis Rodríguez Zapatero, and opposition leader, Mariano Rajoy, of the conservative People’s party, rating lowest. Rajoy seems set to take over after a general election next March.When police forcibly evicted the Madrid demonstrators on Tuesday morning, they came back in even greater numbers later that day. By Friday night authorities had lost the battle to impose rules banning public politics on the day before elections. Police could only look on. “Join us, police officers!” the demonstrators shouted.By the early hours of Friday, it was already elbow-room only in the Puerta del Sol – the square which prides itself on being Spain’s “kilometre zero”, the spot from which all other distances are measured.On the statue of King Carlos III, somebody had pinned a sign that read: “We are anti-idiots, not anti-politicians.” Other placards read: “We aren’t against the system, we want to change it”, “Democracy, a daily fight”, and “Take your money out of the bank!”“We’ve brought tents, food and even Trivial Pursuit to keep us entertained,” said Pablo Cantó, a fresh-faced 23-year-old journalism student. Like many younger protesters, and the movement as a whole, he had trouble expressing exactly why he was here. “We want change,” he said. “Things just can’t carry on as they are.”The heavy clouds of cannabis smoke suggested others had brought their own form of entertainment.“I’ve been protesting for decades,” said 60-year-old school teacher Rosa Marín. “I’m glad to see so many young people here. The questions is this: Is this another May 1968, or are they just here for the party?”A gang of drunken skinheads, mindlessly chanting football terrace slogans, were there for the latter.But a neat, disciplined circle of people intently debating social reform showed many were here in earnest. They took turns to stand up and make their proposals, the audience listening and using the sign language applause of the deaf – by shaking their hands above their heads – to show approval without drowning the speakers out.The proposals, due to make their way through a laborious process of committees, working parties and general assemblies, varied from calls for less spending on the military to helping businesses. “Because it is not just money for the owners. They are the ones who give people like us jobs,” said one young man.For some younger protesters, it was a political baptism. “I don’t know what will come out of this, but it is enough just to show everyone how upset we are,” explained Javier de Coca by phone from the protest camp in Barcelona’s Plaza de Catalunya, where there was a surprising absence of the nationalist or separatist symbols of protest movements in recent years.“It’s as if they’ve realised they have more serious problems to deal with,” said one protester. One of those problems is 45% youth unemployment.On a wall beside the tarpaulin-covered command centre in what some were calling Madrid’s “Republic of Sol” – home to a press office, an infirmary and a legal centre – a list of needs had been pinned up. Toilet paper and food were scratched off the list. Bookshelves, wood, rubber gloves and bottles of cooking gas were on it. Volunteers were needed for a creche.“We process the proposals and try to turn them into something that makes legal sense,” explained a volunteer at the legal centre.However, the open assemblies are painfully slow. Some last for hours, as everybody is given their turn to speak. After almost a week of protests, the demonstrators have failed to come up with a coherent set of demands.Electoral reform to end the two-party system and action to both punish corrupt politicians and limit their luxuries and privileges were the main areas of agreement.So is the Arab spring spreading to southern Europe? “You can’t really compare us to people who were risking their lives by protesting,” said 23-year-old computer engineer Jaime Viyuela. “But yes, you can say that we are inspired by the courage of the Arab spring.” guardian.co.uk © Guardian News & Media Limited 2010Published via the Guardian News Feed plugin for WordPress.Thanks for subscribing to Andy Roberts blogSpain reveals pain over cuts and unemploymentRelated posts:Zapatero says Spain safe from bailoutProtest march against coalition cuts expected to attract 300,000Anti-cuts campaigners plan to turn Trafalgar Square into Tahrir Square
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Spain reveals pain over cuts and unemployment
http://distributedresearch.net/blog/2011/05/21/spain-reveals-pain-over-cuts-and-unemployment
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May 21 2011, 8:54am | Comments »
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Portuguese learn price of €78bn debt bailout
http://distributedresearch.net/blog/2011/05/04/portuguese-learn-price-of-e78bn-debt-bailout
Health and education spending in Portugal to be cut by €745m, state pensions reduced and major building projects axed
This article titled “Portuguese learn price of €78bn debt bailout” was written by Giles Tremlett, for The Guardian on Wednesday 4th May 2011 15.20 UTC
Portugal woke up to the price of its €78bn (£70bn) bailout on Wednesday as new airports and high-speed rail lines were sacrificed in a package of austerity measures and the government pledged to freeze pensions and shrink the civil service. Lisbon’s new international airport, already on hold, and the building of a high-speed rail link between Lisbon and Oporto will now be put back until after 2013, according to state news agency Lusa. Health and education spending will be cut by €745m, civil service pay and pensions will be frozen, and people on state pensions above €1,500 a month will have them reduced. Civil service staffing is to be squeezed by 1% a year in central government, while regional administrations and town halls will be told to shed 2% of their employees annually. Portugal’s banks will take up to €12bn of the bailout funds to rebuild their capital ratios, according to reports. The banks would have to raise their core tier one capital ratio – a gauge of higher quality capital that mainly comprises equity and retained earnings – to 9% at the end of this year and to 10% by the end of 2012, Reuters said. The country will also carry out a fire sale of the nationalised Banco Português de Negócios (BPN) bank. “The authorities are launching a process to sell BPN on an accelerated schedule and without a minimum price,” according to a memorandum of understanding seen by the Guardian, which added that the sale should be finished in July. Portugal is expected to reduce public spending by 3.4% of its GDP this year and raise an extra 1.7% of GDP by raising taxes on cars, tobacco and electricity and getting rid of income and corporation tax loopholes. A detailed investigation of public-private partnerships (PPPs), which have been used for building hospitals, roads and rail lines, will be carried out to see if they are hiding extra government debt. New PPP projects will be suspended. José Sócrates, Portugal’s caretaker prime minister, announced the areas that would remain untouched when he explained the bailout during a television address to the nation on Tuesday night. These included pensions for the worse-off and the retirement age. But he failed to reveal what austerity measures came with the bailout package, beyond saying they would be similar to those rejected by parliament in March. The March defeat brought down his minority socialist government and a snap election was called for 5 June. Polls show the opposition Social Democrat Party (PSD), which rejected the March austerity package, may win that vote. Representatives of the International Monetary Fund, the European Union and the European Central Bank met Social Democrat leaders on Wednesday morning to seek their backing for the plan. “The PSD will give its opinion on what it has read and heard late today or early tomorrow,” said Carlos Moedas, the party’s economics advisor, after the meeting. Social Democrat leaders had already indicated they might change elements of any bailout-related austerity package if they were elected to government, although always with the aim of hitting this year’s target of reducing the budget deficit to 5.9% of GDP. The IMF said: “We have said from the start that it is important that any agreement have multi-party support and we shall continue in our efforts with opposition parties to show that this is the case.” Portugal managed to raise €1.12bn euros in three-month treasury bills today with demand almost doubling the offer, but investors insisted on a 4.65% interest rate – up from 4.05% two weeks ago. Jonathan Loynes, chief European economist at Capital Economics in London, said the bailout might not be enough to stave off restructuring: “It won’t put an end to speculation that – along with Greece and perhaps others – it will sooner or later need to undertake some form of debt restructuring.”
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Related posts:Ireland forced into new £21bn bailout by debt crisis Portugal bailout fears rise as credit rating cut Portugal’s PM calls on EU for bailout
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May 4 2011, 10:30am | Comments »
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Spain staves off bailout – for now
http://distributedresearch.net/blog/2011/04/08/spain-staves-off-bailout-for-now
As its neighbour Portugal succumbs to a bailout, Spain insists that it won’t follow despite holding €75bn of Portuguese debt
This article titled “Spain staves off bailout – for now” was written by Giles Tremlett, for The Guardian on Thursday 7th April 2011 19.43 UTC Spanish store fronts, jostling for space along a single block in Lisbon’s João II street, are a sign of just how deeply Spain – which accounts for a third of all Portuguese debt held in foreign banks – is linked to its neighbour. Spain’s two global banks, Santander and BBVA, both have branches on this block, along with another bank, a hotel, a travel agency, a dentistry chain, a pizza restaurant and a supermarket – all of them Spanish businesses. Some 8.5% of Spain’s exports are sent across its western border, meaning that Portuguese austerity measures and an expected return to recession will be also be felt there. But Spanish officials who have watched their bond yields improve even as Portugal headed towards a bailout insist there is no danger of it becoming the next eurozone domino to fall. “(The risk of contagion) is absolutely ruled out … it has been some time since the markets have known that our economy is much more competitive,” Elena Salgado, the finance minister, told the SER radio station. Spanish banks hold around €75bn (£65bn) of Portuguese debt, though only about 30% of this is public debt. Spain had about €25bn in foreign direct investment in Portugal in 2009. The prime minister, José Luis Rodríguez Zapatero, who has said he will not stand for a third term next year, told the Guardian last week that his socialist government would continue to meet its deficit targets. He said it would also keep introducing reforms to boost the current timid rate of growth and start bringing down a startling 20% unemployment rate. Salgado said on Wednesday that 2011 growth would be 1.3%. Spain’s economy is bigger than those of Portugal, Ireland and Greece put together. A bailout there could have disastrous consequences for the eurozone. “Portugal’s bailout request puts the likes of Spain under the spotlight, but we are of the opinion that Spain will not follow due to its improving fiscal situation and recovering economy,” Credit Agricole analysts said in a note to clients .
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Related posts:Zapatero says Spain safe from bailout Portugal’s PM calls on EU for bailout Portugal admits it needs EU bailout
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April 8 2011, 5:33am | Comments »
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