Blogging from the Murcia region of Spain until early June, when I return to
the Highlands of Scotland for a few months

'Fair and softly goes far' - Miguel de Cervantes

Friday, 29 July 2011

Spain calls early General Election amid growing debt-downgrade fears

Spanish President (aka 'Prime Minister') Jose Luis Rodríguez Zapatero has called an early General Election for 20th November 2011, 4 months ahead of schedule, possibly in response to growing fears of a [further] debt downgrade, perhaps in response to a slight improvement in his Party's popularity after an equally slight improvement in unemployment statistics.

As one of the major Eurozone economies, Spain along with Italy is key to the very survival of the Euro as a viable and credible currency. In comparison Greece, Ireland, Portugal and now Cyprus (whose government collapsed yesterday evening) with its major banks' debts being downgraded, are mere sideshows.

it is at times like this that I recall that perhaps apochryphal 'Chinese curse' - "May you live in interesting times".

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