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Response to Tansy_Gold (Original post)

Thu Apr 19, 2012, 07:32 AM

13. Spain’s contagious collapse

http://www.salon.com/2012/04/19/spains_contagious_collapse/

BRUSSELS, Belgium — The words “Spain” and “contagion” have already made history together.



Spanish flu spread around the world in the early 1900s. The pandemic didn’t begin in Spain, but it was there that the world realized how serious — and unstoppable — the outbreak had become.

Now, as Spain takes up a central position in Europe’s economic crisis, the analogy is clear.

Sickly economies in Greece, Portugal and Ireland may yet respond to the European Union’s limited array of economic remedies.

But if Spain’s attempt to heal itself with a shock-treatment of austerity fails, the EU may not be strong enough to prevent the infection from spreading to Italy, France and beyond.

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