Spain Goes on Strike

Spain is suffering its first general strike in eight years.  According to the Wall Street Journal, "Much of Spanish industry ground to a halt, the capital's commuter trains and bus services slowed and small flashpoints of violence broke out in the early hours" as unions mount a challenge to the austerity plans and labor market overhaul that Prime Minister Zapatero instituted in order to stave off a financial crisis.


In recent weeks, Zapatero has been talking up the notion that the worst is behind them; he told the Wall Street Journal that "I believe that the debt crisis affecting Spain, and the euro zone in general, has passed".  Despite his optimism, Ireland and Portugal have been struggling badly.  It will be interesting to see what happens to Spanish bond yields in the aftermath of this strike.
Presented by

Megan McArdle is a columnist at Bloomberg View and a former senior editor at The Atlantic. Her new book is The Up Side of Down.

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register with Disqus.

Please note that The Atlantic's account system is separate from our commenting system. To log in or register with The Atlantic, use the Sign In button at the top of every page.

blog comments powered by Disqus

Video

Photos of New York City, in Motion

A filmmaker animated hundreds of still photographs to create this Big Apple flip book

Video

The Absurd Psychology of Restaurant Menus

Would people eat healthier if celery was called "cool celery?"

Video

This Japanese Inn Has Been Open For 1,300 Years

It's one of the oldest family businesses in the world.

Video

What Happens Inside a Dying Mind?

Science cannot fully explain near-death experiences.

More in Business

Just In