Tuesday, October 2, 2012

Catalan News Roundup 2 Oct 2012

Updated 1:15pm ET, I'll update further during the day if necessary.

BBC: Unrest drags Spain towards buried unpleasant truths
"The "pact of silence" instituted after the fall of General Franco was seen as a price worth paying for rapid, peaceful transition to a functioning democracy - a democracy that, moreover, found space to accommodate a strong, previously clandestine Communist Party alongside the rapidly moderating socialists of the PSOE (Spanish Socialist Workers' Party)."

New York Times Editorial: Spanish Protests, German Prescriptions
"Spain’s current debt problems are not the result of profligate government spending during the boom years. They came from the abrupt collapse of a reckless housing bubble in the private sector, fueled by artificially cheap credit. The bursting of that bubble wiped out millions of Spanish jobs, dragging down tax revenues and consumer spending. It also forced the government to pledge billions of euros that it did not have and could no longer raise to rescue its tottering banking system. New cuts to remaining jobs and spending power will not bring recovery. It would only bring further misery and turmoil.

The Sunday Times: Will Spain Be Torn Apart? (subscription)
"What had seemed only a decade ago like the far-fetched dream of a few on the fringe of Spanish political life has suddenly become a mainstream aspiration as the eurozone financial crisis fuels demands in the northeastern region of..."

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