Geography Archives: Spain

The current turmoil in financial markets around the world is another illustration of the damage that can be done by a bloated and politically powerful financial sector, combined with finance ministers and central bankers who identify with this sector and have their own right-wing policy agenda. Welcome to Europe, which has become the epicenter of […]

Until recently, the discussion on global imbalances focused on the current account deficit of the US and the current account surplus of China, making this a bilateral rather than a multilateral problem.  As a result, the process of rebalancing was seen as involving adjustments in either or both of these countries, and not so much […]

Earlier this month, as the US loudly complained about Venezuela’s decision to purchase arms from Russia, South America’s ministers of defense came together in Guayaquil, Ecuador and put the finishing touches on an agreement to develop common mechanisms of transparency in defense policy and spending.  The agreement, which also calls for the creation of a […]

Zapatero: Not to worry!  Conversely, if you workers provoke an economic crisis someday, we’ll make them pay for it. Bernardo Vergara is a Spanish cartoonist.  This cartoon was published in Territorio Vergara (a blog of Público) on 13 May 2010; it is reproduced here for non-profit educational purposes.  Translation by Yoshie Furuhashi (@yoshiefuruhashi | yoshie.furuhashi […]

$O$ Will exchange lifetime socialist jacket for lifetime Popular Party jacket Juan Kalvellido, born in Cádiz, Andalucía, Spain in 1968, is a working-class cartoonist who has never stopped believing in revolution.  He currently lives in Fuengirola, Málaga, Spain.  This cartoon was published by Rebelión on 18 May 2010.  Translation by Yoshie Furuhashi (@yoshiefuruhashi | yoshie.furuhashi […]

Markets can be irrational, as Keynes famously pointed out, and the Eurozone/Greek crisis is a classic example.  “The markets” for months have been demanding more blood from Greece, as the financial press has continuously and often unquestioningly reported: more commitment to spending cuts, tax increases, and “procyclical” policies that the bondholders, EU authorities, and the […]

The transition . . . at the expense of victims of Francoism. Eneko Las Heras, born in Caracas in 1963, is a cartoonist.  This cartoon was published on his blog . . . Y sin embargo se mueve on 9 April 2010.  Spanish judge Baltasar Garzón was indicted, and suspended from his post on 14 […]

Perhaps the wild swings in financial and stock markets over the last week will make people give closer scrutiny to what is going on in Europe, which would be a good thing for the world.  According to most news reporting, markets are worried about a potential default by Greece on its sovereign debt, and the […]

With Venezuela’s economy having contracted last year (as did the vast majority of economies in the Western Hemisphere), the economy suffering from electricity shortages, and the value of domestic currency having recently fallen sharply in the parallel market, stories of Venezuela’s economic ruin are again making headlines. The Washington Post, in a news article that […]

The political conflicts and street battles in Greece today foretell what is coming to many countries including the US.  The struggles are basically over what the government spends on and who pays the taxes.  In today’s class-divided societies, classes differ over what governments should do and who should pay the taxes.  Governments in such societies […]

Pity poor Angela!  The rock is Greece and its economic woes.  The hard place is North Rhine-Westphalia, where an extremely crucial election is due on May 9th — very soon but not soon enough!  And Chancellor Merkel is caught directly in the middle! Europe and the world have been waiting for Germany to commit itself […]

As I have noted previously, Latvia has experienced the worst two-year economic downturn on record, losing more than 25 percent of GDP.  It is projected to shrink further during the first half of this year, before beginning a slow recovery, in which the International Monetary Fund (IMF) projects that it will not reach even its […]

today, in a free clinic near the mean streets in the city of angels 6000 hardscrabble members of Marx’s always unpopular reserve army of unemployed, and their blank-faced children lined up uncomfortably outside of the Los Angeles Sports Arena to get their yellow wristbands their once-in-a-million ticket to see in the flesh a dentist, a […]

Yet again, business leaders, politicians, academics, and media are blowing smoke around Greece’s efforts to cope with “national debt” problems.  Something far more important for the world than this small country’s financial travails is at stake.  Indeed, what is at stake affects us all.  What is happening in Greece parallels developments everywhere; only details and […]

The crisis facing the eurozone looks at first sight as German efficiency clashing with Portuguese, Irish, Greek and Spanish sloppiness.  But in many respects Germany has performed worse than the “peripheral” countries in the last decade.  The largest economy of the eurozone has been marked by slow growth, poor domestic demand, weak investment, high unemployment, […]

  Jayati Ghosh: What’s happening to Greece is in an interesting way what many developing countries have gone through.  It’s really an inability to have independent monetary and fiscal policies, combined with a fact that during the boom it was chosen as a favorite destination, which creates a situation where you then become uncompetitive.  Suddenly […]

As the EU summit meeting convenes, Greece is dominating the agenda much more than Germany’s Chancellor Angela Merkel had wanted.  This week she has thrown cold water on the idea that Germany and other EU countries would take responsibility for helping Greece to roll over some of its debt, handing that job off to the […]

On March 10, the U.S. House Subcommittee on the Western Hemisphere held a hearing to chart the course of their agenda in the Western Hemisphere over the coming year. On March 12-15, the National Popular Resistance Front in Honduras (FNRP) held a national meeting to pave the way for a Honduran Constitutional Convention, even in […]

An article in yesterday’s New York Times, from the Business Section, titled “Patchwork Pension Plan Adds to Greek Woes” is the latest in a series strikingly titled “Payback Time.” A friend of mine used to like to say: “The New York Times is the voice of the enlightened bourgeoisie.”  This article conjures up that phrase. […]

It is sad and surprising that among the deluge of comments and letters on Greece in the European papers in the last few weeks, not one has gotten the most crucial point about the crisis.  Most commentators treat Greece’s domestic problems and those of other southern members of the European Monetary Union (EMU) as if […]