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[Varche]

http://www.elpais.com/articulo/english/EC/allows/Spain/to/curb/Romanians/access/to/jobs/elpepueng/20110812elpeng_2/Ten

    Mind you unemployment is officially over 20% nationally here and nearer 30% in the South.  Unofficially it is higher of course.

[Nickbat]

In my view, any policy regarding those entitled to work in Spain should result from a decision of those who are enfranchised in Spain...not the EU.

You probably guessed that would be my response, Varche!   

[Varche]

Naw, it will be the Germans who decide who can work where now Europe is fiscally controlled by them.

Spain will continue to de industrialise and just be a place of cheap labour producing cheap food and being a guaranteed market for holidaymakers and North European products and services.

Tis writ on the PIIGS.   

[albitz]

Might soon be PFIIGS -then the sh1t will really hit the fan. The whole of the Eurozone funded by Germany ? How much longer will their taxpayers put up with that.
The end is nigh....................hopefully.

[Sir Tigger KC]

I have two thoughts on the above posts:-

1) The Germans tend to throw their toys out of the pram when they're poked abit too much... :-?

2) Having spent a few happy weeks in Romania some years ago, I seem to remember that Romanian ladies tend to be very good looking!!  8-)

[Rods2]

All will be resolved when the Euro fails, and most European countries revert to their former currencies. 

This is when the proverbial brown stuff hits the fan and all European citizens will get a good covering.

However, the fools in Brussels and the European elite will have inflicted much pain and suffering to 100's million of European citizens  while they keep their generous salaries, extravagant expense accounts and gold plated pensions. Millions of Europeans will be destitute and bankrupted before all of this is all resolved and Europe enjoys financial security, GDP growth and falling unemployment.

If Greece had defaulted 12 months ago and reverted to the Drachma, it would have been 12 months away from market forgiveness, financial stability, low bond rates and economic growth. This is what Iceland did 2 years ago, and about 5 weeks ago fully sold their first 3 year bond issue at just over 3% against Greece's current 40% interest rate.  Greece's economy is currently getting much worse, with virtually no prospect of avoiding a further default. Portugal and Ireland will also at some point default (The UK will not get back the £7bn we have lent to Ireland).

Italy is almost certainly going to have to default as it's Government debt of 120% and virtually no growth over the last 10 years make it unsustainable. Spain may just avoid defaulting where it's government debt is lower, but where their provinces have greater autonomy than in most over countries, it will depend upon them controlling their deficits and debts (which is not looking good).

All in all, when this happens it will make Lehman Brothers, AIG, Fanny May, Fanny Mac, the previous global bank bailouts etc look like a kiddies tea party. 

[albitz]

I entirely agree. EU taxpayers are paying an enormous price so the political elite can keep trying to flog their dead horse.