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2011–present Spanish Protests
The anti-austerity movement in Spain, also referred to as the 15-M Movement (Spanish: ''Movimiento 15-M''), and the Indignados Movement, was a series of protests, demonstrations, and occupations against austerity policies in Spain that began around the local and regional elections of 2011 and 2012. Beginning on 15 May 2011, many of the subsequent demonstrations spread through various social networks such as Real Democracy NOW () and Youth Without a Future (). Spanish media related the movement to the 2008–2014 Spanish financial crisis, the Arab Spring, as well as demonstrations in North Africa, Iran, Greece, Portugal, and Iceland. The movement was also compared to Stéphane Hessel's political manifesto ''Time for Outrage!'', which was seen to empower Spanish youth who were not in education, employment, or training (NEET). Protestors rallied against high unemployment rates, welfare cuts, politicians, and the two-party system in Spain, as well as the political system, capita ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2008–2014 Spanish Financial Crisis
The 2008–2014 Spanish financial crisis, also known as the Great Recession in Spain or the Great Spanish Depression, began in 2008 during the 2008 financial crisis. In 2012, it made Spain a late participant in the European sovereign debt crisis when the country was unable to bail out its financial sector and had to apply for a €100 billion rescue package provided by the European Stability Mechanism (ESM). The main cause of Spain's crisis was the housing bubble and the accompanying unsustainably high GDP growth rate. The ballooning tax revenues from the booming property investment and construction sectors kept the Spanish government's revenue in surplus, despite strong increases in expenditure, until 2007. The Spanish government supported the critical development by relaxing supervision of the financial sector and thereby allowing the banks to violate International Accounting Standards Board standards. The banks in Spain were able to hide losses and earnings volatility, mis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
