Crossroad - pest or cholera?

In this article in SvD argues that the Euro mainly has two alternatives to solve the crisis. Disintegration of the euro (allowing for, for instance, devaluation in certain countires) or centralization (where debts are shared within the Euro zone, but the national banks loose a large part of their present independence).

Thereafter, in another article, the same author describes the consequences he sees from the two different alternatives.

In short term, the disintegration would mean big troubles for southern Europe, Spain included. "A deep and long recession", as he describes it. But after some years it would be replaced by a new working economy and working inter-state relations.

Meanwhile, the centralization alternative (or "Brussels takes the power", as the author calls it) would avoid the deep crisis in the southern countries in short term. However, this alternative would, according to the author, doom the southern Europe to a permanent poor state, with high unemployment and low productivity.

That's it. Two alternatives. Pest or cholera. Real hardship during some years and from there building up a working economy. Or dooming the Southern Europe to permanent poverty (compared to the Northern Europe).

If these really are the two alternative (I am not the one to judge), it seems like a easy choice, even if it is made with heavy heart.

But, according to the author, Souther Europe will probably be doomed to "eternal" poverty. All powers (the market, the politicians, the industry, the establishment) are short term centered. Nobody have anything to win on choosing a long term solution which will mean hard ship in short term.

So, if we are to believe this author, Southern Europe will always be a low producing region of Europe, with lower salaries (and prices). A good place to retire (if you get the retirement money from Northern Europe) and to have vacations. But without any real industry to compete with the Northern Europe.

There seems to be no happy end to this crisis.

Spain pre-crisis (crazy)

Yesterday I saw a documental from Antena 3 called "El dinero que no debimos gastar" (The money we shouldn´t have spent).

What can I say? A lot of it I already knew. But to see it all together, and with such a detail, left me shocked.

Included in the program:
- the abuse of armored cars (estimated to 5000 at a cost of approx. 48k€ per year).
- the uncontrolled construction of regional airports (49 airports in Spain when, for instance, Germany only has 24. Closest to Spain is UK, with 33 airports).
- the "city of culture" in Galicia
- the municipality (La Muela) that paid vacations in the Caribbeans for its inhabitants (among many other excesses)
- highways without traffic
- La nueva Mestalla de Valencia

Having in mind that this is only the top of the iceberg, it's easy to get speechless (or breathless).

g

The whole program is impacting, but what striked me most was the part regarding the City of Culture in Galicia.

So I searched some more videos on this.

07º SALVADOS 11-Marzo-12 3/4 MANUEL CHEDA PERIODISTA en LA CIUDAD DE LA CULTURA

07º SALVADOS 11-Marzo-12 4/4 MANUEL CHEDA PERIODISTA en LA CIUDAD DE LA CULTURA

Also, in English, a program called "Extreme engineering" which partly explains why the "City of Culture" is so expensive (300M€ and increasing).