Spain was one of the first European countries to have fallen into a US-led Neo Liberal market deregulation scheme following the collapse of the Soviet Union.

 

February 24, 2010 (Hamsayeh.Net) - Thousands of workers and unemployed Spaniards are taking to the streets across the country to protest against spending cuts and government plans to raise retirement age to 67.  

 

Spain now has the highest unemployment level in all of Europe at %19 and the government of Jose Luis Rodriguez Zapatero plans to make a 50 billion euro spending cuts and freeze civil service hiring.  Tourism, as one of the largest economic sectors in Spain has been hit severely by the US’ global war on terrorism in recent years.

 

Yesterday over 60,000 people in Madrid took to streets. Union leader Ignacio Fernandez Toxo said during the rally, ‘Mr prime minister, don't play around with pensions, with the future of millions and millions of people in our country.’

 

Spain was one of the first European countries to have fallen into a US-led Neo Liberal market deregulation scheme following the collapse of the Soviet Union. The former Spanish government of Jose Maria Aznar showed strong free- market tendencies leading to a huge bubble in the country’s real estate sector. Aznar was also an avid advocate and supporter of the former US president George W. Bush’s campaign to spread Western democratic values to the four corners of the world even through military means. All of this illusory state of affairs collapsed when the bubble suddenly burst in 2008 bringing down Spain’s economy with it.

 

Right now nearly all the countries in Europe suffer from the ongoing economic downturn caused by market deregulations. Some of the hardest hit include Ireland, Greece, Spain, Moldova, Lithuania, Latvia, Estonia and Italy.