Austerity: It’s not going well anywhere.
The latest example comes from Spain, which has just closed air space over the entire country thanks to an air traffic controller strike, resulting from forced concessions from the state-run agency, according to SkyNews.
This kind of thing is worse than a protest because it grinds commerce to a total halt — well, any commerce that would rely on air travel — and it clearly demonstrates the recessionary vortex caused by austerity.
But then, it’s Friday. Hopefully this will all be resolved and forgotten by the time Spanish bonds trade Monday morning.
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