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I think the 50% figure is among young people. General unemployment is closer to 25%, which is still far too high.Abbeydore said:sorry this is very tongue in check, I hope 50% unemployment figure changes for the better, but then I did not see 50% of Spanish people lying about......did you?
& what would be the best unemployment figure?
Yes we are, and no we shouldn't!tyrrek said:Sorry we're getting way, way off topic. You shouldn't get me started.
Thank you for the correction Fraluhi (I'd already corrected myself). And for the qualification about who are pilgrims or not - thanks for reminding us. It's so important that we distinguish carefully between 'types' on the Camino. Not.:shock:fraluchi said:Yes we are, and no we shouldn't!tyrrek said:Sorry we're getting way, way off topic. You shouldn't get me started.
Along the Camino, suppliers of services to pilgrims (let me refrain from further qualifying the masses which are moving along the stretches to Santiago), have obviously noticed the increasing volumes of people taking "The Walk". Thus operators are asking what they can possibly get. It's related to the local conditions, not the country's economics as a whole. Prices during off-season are lower than in the peak.
So far they seem to remain stable, not withstanding the financial woes of Spain.
(Reuters) - A flock of "vulture" funds is gathering in Madrid in the hope that a banking sector shakeout will finally deliver a bonanza of real estate and distressed company assets at rock bottom prices.
Hedge funds and private equity houses are renewing ties with Spanish lenders and government officials, bankers said, as reforms push banks to offload troubled assets at steep discounts.
"They want to make sure they're among the first five people we call up when assets from the banks start moving," said a senior investment banker who spent the last two weeks shepherding such investors around the Spanish capital.
Vulture funds, which were a regular sight at Dublin airport when Ireland's banks were in turmoil, have swooped on Madrid's plush Palace Hotel, shuttling up and down the Castellana avenue, one of the capital's main arteries and home to investment bank offices and Spanish banks.
Rocco Rossi: The human cost of the eurozone crisis
Rocco Rossi, National Post Jun 7, 2012 – 3:13 PM ET
At age 50, his factory shut down and he lost his job. Two years later, his money ran out, and so did his wife and young daughter. At age 55, he was walking the Camino de Santiago in Spain. That’s where I met him.
During the Depression, many “rode the rails” in Canada and the United States. Enrique, however, has been walking the Camino — a thousand-year-old pilgrimage route — continuously for over three years. His well-worn shoes, clothes and two carrying bags represent the sum total of his worldly possessions. He sleeps out most nights, and his favourite spots are cemeteries, “They are quiet,” he explained. “No one bothers me there.”
He looked for work for years, and still does. But he’s largely given up hope he can return to the life he once had. He doesn’t want to beg and can’t afford a bus ticket or a place to stay, so he walks.
A proud man who values working to support himself, he does odd jobs along the way for food and the odd coin. He’s picked apples and cherries in Bierzo; gutted fish in Galicia; cut and stacked hundreds of cords of wood in Navarre; harvested grapes in the Rioja; loaded potatoes in Palencia; weeded gardens in Castille; and milked cows, goats and sheep everywhere in between. For one week each month he can stay in a monastery in Santiago for 1.50 euro a day. That gets him a bed, a hot shower and three meals. He can only stay there for a week each month, though, because of the rules — and because he needs the other three weeks to raise the 10.50 euro.
When on the move, Enrique walks an average of 30 km a day. He’s covered almost 27,000 km in the last three years — two-thirds the circumference of the Earth.
Politics make little difference to Enrique — he lost everything under the socialist regime. The “austerity” measures of the current conservative government have no relevance to him. Walking and sleeping out have not been any different under either government.
He is not the only “economic pilgrim” on the trail. Not one of the Spanish parents I met walking expect their children to work in Spain when they graduate. All are encouraging their children to learn German, English or Chinese as passports to greater opportunity. Many of those whose children have already graduated have seen them leave for the U.K., the Netherlands or Germany.
The official unemployment rate in Spain is almost 25% — numbers North America hasn’t seen since the Great Depression. Youth unemployment is over twice that. And those numbers don’t include people like Enrique, who are completely off the statistical grid, or those who have gone elsewhere.
Spending well beyond its means didn’t help Spain’s government create the sort of diversified economy that could absorb the thousands of university students graduating each year. Nor did building thousands of new apartments, factories and offices with cheap borrowed money ensure that there would be buyers in the end. In fact, for people like Enrique, the only silver lining to the massive real estate bubble that devastated Spain is that there are now many empty buildings within which to squat.
It’s not much better in the countryside. Near Ponferrada, I came across Antonio, who was out herding his 500 sheep in the hills. He always has meat, milk and cheese, but it cost him over 1,000 euro to have his sheep shorn this year, and he received only 50 euro for the wool. The price he gets for meat and milk has declined over the last three years, and, the week before we met, he lost 23 of his sheep to wolves. Thankfully, he is still able to make ends meet because his wife has found a part-time job helping in a local restaurant that services the growing number of pilgrims in the region.
The recent headlines about the “euro crisis” and “downgrading of credit ratings” and “currency fluctuations” simply don’t capture the very significant personal toll that is being experienced here each and every day.
National Post
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