Desperate measures in Madrid

10th May 2012, Comments 1 comment

As Spain trembles on the precipice of becoming the next EU member to require bailout funds, the government in Madrid has nationalized one of Spain's largest banks in a bid to shore up its ailing financial sector.

1 Comment To This Article

  • Scott posted:

    on 11th May 2012, 19:04:41 - Reply

    Why is anyone anywhere still debating austerity. Every time it has been tried anywhere it has failed. Austerity starves an economy. It deepens and prolongs recessions, often turning recessions into depressions.

    Limits on debt are fine in good times, but during recessions, they are just plain stupid.