Spain struggles under austerity, most are dismayed


While most of the focus on Europe’s Troika-mandated austerity  efforts in Greece, Spain is struggling under the impact of wages cuts, higher taxes, pension reductions, and other afflictions mandated to ensure cash continues to flow to the banksters of the North.

And though Spain has won kudos from the Troika for its subervience, most Spaniards see none of the promised relief.

From El País:

Spain’s macroeconomic data is improving and unemployment is falling, but 92% of Spaniards say  inequality is rife, while 72% believe the gap between rich and poor will persist for a long time to come.

A new survey measuring confidence in the economy conducted by pollster Metroscopia shows that most Spaniards are not seeing any direct or meaningful impact of the economic recovery on their household finances.

Inequality has increased considerably since the crisis began in 2008. At the same time, the number of multimillionaires has doubled: nearly 500 taxpayers are declaring income of more than €30 million, compared with 230 in 2007. Meanwhile, more than 13 million people, mostly minors, are at risk of poverty or social exclusion because of low household income, according to the latest Living Conditions Survey by the National Statistics Institute (INE).

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