Anti-Austerity Protests Return To Spain
by Tyler Durden
In two weeks the Greek economy will once again suffer the consequences of European indentured servitude when it two main labor unions will grind the system to a halt with a general strike against planned austerity measures on September 26. Spain, however, can’t wait, and is already out in the streets (video of today’s protest can be found at BBC). From Al Jazeera: “Thousands of Spanish anti-austerity protesters have taken to the streets of Madrid to rally against government cuts aimed at cutting the public deficit. The demonstrators assembled in groups at noon on Saturday along the central streets of the capital city in a protest against spending cuts and tax rises. The developments came as Luis de Guindos, economy minister, said that Spain’s borrowing costs still do not reflect the country’s economic and fiscal adjustment, despite their recent easing.” The key word uttered that makes this whole protest a moot point: “referendum” – silly Europeans don’t seem to get quite yet that Democracy has been dead for decades, supplanted by kleptofascist globalization with just enough handouts for the lower and middle classes (usually in terms of welfare promises) to keep everyone happy. Actually make that silly Americans and Asians too.