Bring on the crisis

Governments usually fall when the economy deteriorates. In Spain, it does not really matter. The main opposition party campaigned hard against the government before last March’s poll in economic terms but they lost anyway. Spain’s inflation stands at 4.7pc, house prices have fallen 15pc since September and unemployment will hit 10pc in just few months’ time (Daily Telegraph, May 30 2008) The current-account deficit is the worst in the developed world. But Spaniards are not fans of liberalization and reforms are not on the way. They might not care about economics but they are sure to feel the effects of the crisis very soon.

Too much building… (from www.sevillahousing.com/)

(Spanish) Que venga la crisis