Nigel Farage on the Rise of UKIP, the Fall of Europe, and the Parallels for the US

Politics / Eurozone Debt Crisis Oct 11, 2012 - 03:53 AM GMT

Best Financial Markets Analysis Article Political and economic tensions are mounting in Spain. No serious economist believes the official budget forecast. Unemployment is near 25%, and tax hikes are about to make matters worse.

Moreover, a proposal from Madrid would force children in Catalonia’s schools to speak Spanish even though the dominant language is Catalan.

Proposal to "Hispanicise" Catalan Students

Please consider Madrid sparks Catalan language debate.

Spain’s government risked inflaming tensions with Catalonia when it said school students from the north-eastern region should be “Hispanicised” by bringing the curriculum under greater central control.

“Our interest is to Hispanicise Catalan students, so they feel as proud to be Spanish as they do to be Catalan,” Mr Wert said in response to a question in Spain’s parliament on Wednesday.

Catalan, which was banned under Franco, has become the dominant language among Catalonia’s 7.6m people, and is deemed a vital underpinning of its sense of nationhood.

The reopening of the debate over central control of language and curriculum in schools comes amid a surge in popular separatist sentiment in Catalonia, with the region’s politicians having declared their intentions to hold a referendum on independence if November elections provide a mandate for one.

A recent poll taken by the Centre for Opinion Studies, an official institute of the Catalan government, indicated that 74 per cent of Catalans wanted a referendum to take place. Some conservative politicians in Spain have called for Madrid to respond by recentralising powers.

Nigel Farage on the Rise of UKIP, the Fall of Europe, and the Parallels for the US

Farage hits the nail squarely on the head. There is virtually no chance the eurozone will stay intact, but German Chancellor Angel Merkel, European Council president Herman Van Rompuy, and European Commission president José Barroso are all willing to destroy Greece, Spain, and anyone and every country who gets in their way.

Farage did not think Greece would still be in the Eurozone by now, and neither did I. In the end, this mess will fall apart anyway, because mathematically it must. In the meantime, every day is additional torture just so bureaucrats get their way.

Additional Reading

Four Things Spain Needs

Shed the Euro
Work rule and pension reform
Smaller government
Lower Taxes

Instead, under austerity measures, Spain has higher taxes, remains shackled to the Euro, and has done little or no work rule reform.

As it stands, there is no hope for Spain. And each passing day Spain stays slaves to Brussels and the Euro, the worse off Spain will be.

Greece is the model for how bad things can get.

By Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com Click Here To Scroll Thru My Recent Post List

Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management . Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.

Visit Sitka Pacific's Account Management Page to learn more about wealth management and capital preservation strategies of Sitka Pacific.

I do weekly podcasts every Thursday on HoweStreet and a brief 7 minute segment on Saturday on CKNW AM 980 in Vancouver.

When not writing about stocks or the economy I spends a great deal of time on photography and in the garden. I have over 80 magazine and book cover credits. Some of my Wisconsin and gardening images can be seen at MichaelShedlock.com .

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