18 Jun 2010

La Reconquista Española

Reaper at the Door 2010

Spain is under attack by the very financial institutions it helped in 2008/9.

Fears were echoed yesterday by the billionaire investor, George Soros, who warned that Europe would almost certainly face a recession next year which might generate "social unrest" and the kind of populist nationalism seen in the
1930s. "That's the real danger of the present situation – that by imposing fiscal discipline at a time of insufficient demand and a weak banking system... you are actually... setting in motion a downward spiral," he said.

It may be true the market can attack Spain for the easy virtual money it craves for. But so can the people attack the markets. Europe's leaders are elected to protect. If they fail new leaders will rise to take their place just as they did in La Reconquista.