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Spain Jobs Crisis Worsens: Record Unemployment

April 25th, 2013

The unemployment rate in the Eurozone’s  4th largest economy continues to soar, and has now reached 27.2 percent. After 5 years of unrelenting economic crisis, Spain’s deep depression shows no sign of ending. The IMF projects further contraction in the Spanish economy for 2013, with the unemployment rate expected to continue to rise.

The beleaguered Spanish Prime Minister,  Mariano Rajoy, has nothing to offer the six million plus unemployed Spaniards, except for more austerity measures, masquerading as “economic reforms.”  With the worst jobs crisis since the end of the Franco dictatorship, the political leadership in Spain is impotent, and unrest among the unemployed and disaffected is increasing, with calls for mass demonstrations opposing Madrid’s economic policies proliferating on social media.

With Spain’s economy in tatters, can democracy survive, or will the economic crisis  lead to calls for a “strong man” to rescue the millions of unemployed from the utter hopelessness now raging on the Iberian peninsula?

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