Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
You mean that the problem in Spain is larger than the fly to safety and money.. well it is true.. the fact is that the problem is the global search of safe assets.

If Spain had the peseta, you can prevent the effects of this flight with devaluation.. making spanish products cheaper and the low-wage products more difficult to import in a lot of cases.. or at least in enought hem to keep unemployment at reasonable levels.

So, it is more the euro + financial flight to safety.. but I guess this points comes acroos in the text, doesn't it?

A pleasure

I therefore claim to show, not how men think in myths, but how myths operate in men's minds without their being aware of the fact. Levi-Strauss, Claude

by kcurie on Fri May 20th, 2011 at 08:23:18 AM EST
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