BEHIND SPAIN'S TURMOIL. JOHN CARLIN

'Behind Spain's turmoil lies a cronyism that stifles the young and ambitious.The country needs more than a bailout. It needs a revolutionary change in its hidebound social structures'.

This article appeared on the Observer on Sunday 30 Sept. 2012. and I quote: 

'Here's the news from Spain last week, in case anybody missed it: huge cuts in government spending; higher taxes; biting austerity; unemployment higher than in Greece; big and growing demonstrations in Madrid; violent clashes with police; and in Catalonia, a rising clamour for secession. The only hope on the horizon takes the ambiguous form of an expected financial rescue package, with still more austerity strings attached, from the richer countries of the north'.

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JIM ROGERS ON EU SPAIN BANK BAILOUT

Guest to CNBC's Fast Money last June, financial guru described the bailout of the Spanish banking sector as 'absurd economics' in a controversial interview that set internet on fire. Worth checking out.