Spanish reform talks struggle

Source: Reuters

(Reuters) - Talks between Spanish unions and business leaders on labor reform ended without success on Friday, the latest sign that the euro zone is struggling to steer its way out of a debt crisis and into growth.

World

Spain is among the 'peripheral' countries whose debts have stretched unity in the single currency zone to the limit as the richer members, led by Germany, have been forced to set up a $1 trillion safety net.

European Central Bank policymaker Lorenzo Bini Smaghi of Italy accused Germany of exacerbating the crisis with alarmist language, and said Europe's predicament was an early signal of similar problems in other regions.

"We could say that euro area tensions are the 'canary in the coal mine' of the challenges that policymakers worldwide are going to face," he said in the text of a speech to be delivered at a conference in Morocco.



Read more: http://www.reuters.com/article/idUSTRE64R35J20100528

with a name like Mandragon? I remember seeing reports of how it was initially weathering the storm much better but haven't seen anything lately, just that Spain itself is broke

... will help German manufacturing. Since they have a export oriented economy with a week Euro they can export a lot more.