European Debt Crisis

What’s up, Europe? ECB plan gives hope, worries Spain

Kai Ryssdal Sep 10, 2012
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European Debt Crisis

What’s up, Europe? ECB plan gives hope, worries Spain

Kai Ryssdal Sep 10, 2012
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Markets are up, additional bailouts likely to be approved, and the euro will live another day. While that sounds like great news for people across Europe, Spanish journalist Miguel-Anxo Murado fears that help could come with more strings attached.

“You name it, the education, everything, has been affected by the austerity program. People are now beginning to feel the pain of it,” says Murado. “In fact, we’re preparing ourselves, we’re bracing for a very difficult autumn in which lots of industrial action, strikes, protests are already in store.”

That pain comes on top of a staggering 25 percent unemployment rate in Spain. The prospect of additional cutbacks in a new bailout package has the Spanish public worried.

“The bailout will stigmatize the Spanish economy and there’s another problem and it’s that this help comes with strings attached,” says Murado.

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