Europeans Are Turning Their Backs On Austerity While Officials Continue To Deny Reality

Sunday, May 22, 2011
By Paul Martin

Mike “Mish” Shedlock, Global Economic Trend Analysis
May 22, 2011

The words for today are the same as the words for last week and last month: defy and denial. Let’s consider a few examples.

Campers in Spain Defy Protest Ban

The New York Times reports Tens of Thousands in Spain Defy Protest Ban

Tens of thousands of demonstrators across Spain continued sit-ins and other protests against the established political parties on Saturday. They did so in defiance of a ban against such protests and ahead of regional and municipal elections on Sunday.

About 28,000 people, most of them young, spent Friday night in Puerta del Sol, a main square in downtown Madrid, the police said. They stayed even as the protest ban went into effect at midnight under rules that bring an official end to campaigning before the election in 13 of Spain’s 17 regions and in more than 8,000 municipalities.

Fueling the demonstrators’ anger is the perceived failure by politicians to alleviate the hardships imposed on a struggling population. The unemployment rate in Spain is 21 percent.

The Rest…HERE

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