Spain: the pain of austerity deepens

Posted: January 4, 2013 in Euro, News, poverty
Tags: , , , , , , , , , ,

CounterPsyOps

Unemployment in Spain already stands at 26%. Crowds scavenge the streets at night for food. And life is about to get tougher still

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A family prepares to sleep on the street in Madrid. Oxfam says that by 2022, 38% of the Spanish population could be in poverty. Photograph: Susana Vera/Reuters

By Giles Tremlett, The Guardian

Forget, for a moment, the Greek tragedy. The tale of social woe set to play out in Spain this year is both bigger and more important to the world. For the drama of rescuing the euro, or letting it sink, will be played out on Spanish soil.

That is not to say Spaniards will have it worse than Greeks, though Eurostat figures show only Bulgaria and Romania now have a higher percentage of people deemed at risk of poverty. Spain’s economy will shrink, once more, by 1.5% – a dramatic enough figure, though one most…

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