October 31, 2012
One in four people are now officially out of work in Spain
as unemployment in the debt-ridden country reaches another record. The grim
news comes as Madrid's transport workers go on strike, adding to a sixth day of
protests in the capital against austerity cuts.
That's as another epicentre of the EU crisis - Greece -
looks likely to miss its promised deficit deadline. The forecast from the
International Monetary Fund's debt inspectors comes a year after EU leaders
applauded what they considered a key deal to save Athens.
Author and publicist F. William Engdahl, says all the
measures the EU leaders are imposing are failing to address the core problems
on the continent.
“Those banks remain the source of the problem. There is no
landing going on to the real economy, and that`s the root cause of the 25 per
cent unemployment in Spain and Greece and elsewhere across the EU,” he stated.
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