The American Bear


Spain’s Capitalista Virus | Robert Hunziker

The neoliberals, who control policy at the EU/IMF, want the worst case scenario for Spain because it will undermine the social compact established throughout Europe since WWII, bring down embedded social welfare policies and provide a platform for privatization of elite governmental assets, like airport authorities or port authorities, which are ‘cash cow’ investments (Spain already announced selling off 49% of the Aena airport authority, managing 47 airports, and 30% of the state lottery, December 2010.)

Could it be true that policy wonks at the IMF and the EU are so devious as to collaborate with private interests to manipulate a scenario whereby nation-states are stripped of their assets and workers are forced to accept dramatic cuts along with slashing of the welfare state?

Whether true or not, the hard facts are: Europe’s most economically challenged nations, i.e., Ireland, Portugal, Greece, and Spain, are under intense pressure to meet onerous austerity guidelines set by the EU/IMF, and the economies of these countries, except for Ireland, which is tenuous, at best, are falling off a cliff. [read more]