Tuesday, December 22, 2015

AEP: "Political uprising in Spain shatters illusion of eurozone recovery."

Spain voters smash their two party system.
Spain risks months of political paralysis and a corrosive showdown with Germany over fiscal austerity after insurgent movements smashed the traditional two-party system, leaving the country almost ungovernable. The electoral earthquake over the weekend in one of the eurozone’s ‘big four’ states has echoes of the shock upsets in Greece and Portugal this year, a reminder that the delayed political fuse from years of economic depression and mass unemployment can detonate even once the worst seems to be over. . .
Podemos, a child of the ‘Indignados’ revolt against austerity, is led by young university professors steeped in the theories of Italy’s former Communist guru Antonio Gramsci. They have learned a lesson watching Syriza make blunders in Greece, but they are no less radical.

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