The successful laboral´s reform in Spain

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With this brightful time in the last Spring´s days while the Summer is more and more closed to us, we have realised the dark reality of Spanish economy.

We had a laboral reform some months ago so that we could reduce the amount the interest rate of our loan - because we reached a peak of 7% per cent of interest rate in December, 2011. In fact, it seemed that that percent were reduced and we could borrow loan with a 2%. So, it was nearly impossible to reach again that 7% which will mean we couldn´t pay the money borrowed.

Furthermore, we must consider all the lost of laboral rights in order to the Market trusts in Spain. Namely, a boss can ask whatever - they can reduce your salary, improve your function and fired to you paying less compensation. It´s their victory.

Unfortunately, as you all know, the doubt is rising and their interest rate with a 6% the last week. And, one of the biggest banks has been rescued by Europe when the Government doesn´t use the word of rescue.

I reckon it´s incredible that a bank who has received €15,000 millions from the EU with a 2% of interests and which lend the same money to the Government with a 5%, go in bankrupt and all the country must pay them their doubt. What about the poor citizen who has lost their work and consequently their house and life? What about the little company of 1-10 people who falls down?

It´s clear as water that the Government helps who had a lot of money, who earned big amounts of money.

Anyway, there aren´t conditions about this loan to the bank at this moment so we do believe there won´t be more cuts for the Spaniards. However, each Spaniard thinks the opposite because we have realised the politicians are trueborn liars so we can´t trust in someone who says something and other different words the next month. For instance, the Government had said they were not going to rise taxes and they rised after the elections.


Maybe the US Government has some bit of light in their words. That is, Spain should stop doing more reforms and wait for the results because if they continue like that, Spain will never been recovered.

Therefore, which is the best option whether the European of continous cuts or the US of stopping reforms?

Only the time will now by their dices.

Have a good week!