But it is also supposedly in deep economic peril, owing €130b to the euro banks. In fact Spain's debt is second only to Italy at €350b making Greece (€50b) and Ireland (€10b) look relatively well off! Property prices have taken the hit in Spain with Villas now worth less than 50% than there build price. Young people have also paid a heavy price as new jobs and new homes are out of their reach. The "indignants" as they are labelled continue to protest for a better deal.
Wages here remain low, and it is clear that some of the Spanish are staying at home rather than spending any disposable cash in restaurants or bars. But they are still spending and they are still working. The streets are still cleaned, the rubbish is still collected (daily in the summer) and low and behold they still have street lights! Unemployment, particularly among Young people and migrant communities (The Brits) is still very high, but a de centralised government has seen regional parliaments invest in public jobs in order to encourage growth. Growth 2011 is around 0.8% still low but four times the 0.2% offered by the UK and despite the massive debt Spain remains confident on it's repayments. Whilst the worlds economic commentators look to Greece, Portugal, Ireland or even the USA as the next economy to hit the rocks and default on it's payments it seems as if Spain is taking a siesta and saying "preocuparse por el dunero mañana"
Meanwhile back in Blighty the National Institute for Economist and Social Research the leading economic think tank tells George Osbourne that there will be "No meaningful recovery this year" it further predicts that "Public finances will not improve as quickly as the OBR expects" and the IMF chips in by telling the Government there is "significant risk" to inflation, growth and employment targets.
As predicted earlier on this blog (we are indeed trapped by our predictions) growth has been killed off and the squeeze on public services is effecting spending beyond anything that is desirable.
When I return from holiday the County Council budget deliberations will begin in preparation for next years cuts! On top of the £70m of cuts so far unachieved this year, and I am beginning to wonder what the Tories are going to do? After all when you have turned out the street lights, turned of the safety camera and privatised Social Care, there are not many pips left to squeeze
As British immigrants in Spain scramble for a return back to the UK (the country they left because many said too many immigrants didn't adopt local customs and language!) I wonder if they really know what they are letting themselves in for when returning home?
The Spanish I feel won't be too upset to see many of them leave after all how much "Grande beer por favour Manuel" can a country really take?
If all the Brits do leave then I might migrate over here in the opposite direction, after all the Costa Blanca would be quite nice if it wasn't for all the tourists and the Irish/British Bars.
And an added bonus is that after a few glasses of the local vino too many, at least I would still be able to find my way home at night safely under an ornate street lit Spanish sky
THIS HAS BEEN A CALM BEFORE THE STORM HOLIDAY POSTING FROM THE NORTHAMPTON INDEPENDENT. BEWARE STORMS PREDICTED IN AUGUST AND SEPTEMBER!
don't drag the irish into the 'british lager louts in spain' story that's been going on for many years. The irish themed pubs that many Spanish like, became victims of the oft so unruly british who seem to think that anything goes as soon as they leave these shores.
ReplyDeleteMind you, many seem to behave in the same way here and get away with it, so what's new?
There will be many shouts of OLE when the majority of Brits do leave Iberian shores.
anon, you are 100% correct that the Irish are far better behaved and far more welcome than the Brits in Spain, but my point is that when I am in a Spanish Town/City I would rather eat/drink in a Spanish Tapas bar than some plastic Fiddler McGinty's traditional Irish pub selling Full English Breakfasts and Sunday Roasts.
ReplyDeleteSpain has been long regarded by many as akin to a polo mint, with nothing in the middle.
ReplyDeleteI have been watching Rick Stein for a few nights on BBC 2. He tours on the plains and in remote parts of the mountains and my mouth has been absolutely watering. Fascinating programmes that are for once not about him but about the areas, the people and most of all the food and wines. Well worth watching if you can. I have been enthralled by the passion and the love that the locals have for their traditions and have put on a 'phantom' half stone just watching.
I certainly concur with your sentiment on the 'Derby O'Gill" type places probably not even run or staffed by a "plastic".
Went to Cartegena on Wednesday, it is a lovely port town 3000 years of history, lots of Roman stuff still standing including an arena which became the bullring!
ReplyDeleteLots of good food, a hat shop which sold real panama hats from Ecudoar and hardly a tourist in site.
All 30 minutes from the Costa Blanca
I am with you Seniore Clarke. Why can't people just have a week or two away without the need to have a 'British pint' and a fry up.
ReplyDeleteAnyway - while you are away, the credit crunch is yet to hit the beauracrats on Northampton. I thought money was sparse?
There is one hell of piece of work going on in Kingsthorpe that by the look of it will do very little to help the traffic (someone needs to work out the problem is not the road but too many cars) and white lines around the county are being re-painted everywhere I go.
Surely that can wait?
Enjoy the sun and tapas.
CWM