Democracy is an illusion! It’s become a political system fostered by the élite, for the élite, in order to fool the people that they have a stake in the system. In actual fact, they have virtually none. The whole political system in the modern era, despite having noble beginnings, is now used to benefit the few at the expense of the many. – Mark Alexander, June 29, 2018
Sunday, 13 May 2012
Banking Crisis Hits Ordinary Spaniards Hard
The Spanish government has announced major reforms to the country's banking sector. The key measures include requiring banks to set aside more money to protect themselves from bad loans, and an independent audit of the sector's debts and assets. Spanish banks are saddled with large amounts of bad debt, after the property market collapsed in 2008. The resulting crisis hit ordinary Spaniards hard, as Sonia Gallego reports from Madrid.
