Spain's Woes

Spain's Woes

There are 1 comment on the GuruFocus.com story from Jun 5, 2010, titled Spain's Woes. In it, GuruFocus.com reports that:

You'd never know that Spain is one sick puppy of a nation by walking the streets of Barcelona, as I was doing last week.

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American Expat

Valladolid, Spain

#1 Jun 6, 2010
I do not take issue with most of this article, but the comment that private industry can lay off people at will (i.e., without payoffs, etc) is not quite accurate. If the employee is on a permenant contract with years of service, he/she is entitled to what might be called tha golden parachute. That is why the system is rife with employees on temporatry contracts, in fact, probably a significant percentage. That is one of the primary reasons for workforce reform. Also, while the streets in that area might be loaded with folks doing their thing, one can get a real idea by looking at the number of shuttered small businesses, homes for sale (because owners cannot make the monthly payments!) and the cranes that might be visable from afar, but that is just it: just visable, not operating! Spain is not likely to get any better until the people rise up and evict Mr. Zapatero, who would resign willingly if he had any dignity at all!

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