An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Sunday, May 24, 2015
TeleSur — Rafael Correa and Ecuador's 21st Century Socialism
Very nicely done and good information. Take a look.
BTW, Correa received master's and doctoral degrees in economics from the University of Illinois at Urbana-Champaign.
A head up: local and regional elections in Spain were yesterday. Very interesting results...
Populist platforms in the big cities (Madrid and Barcelona) have they key to power. A turn to the left and the end of bipartidism. Conservatives lose a good deal of power in the administration and executive branches, and a lot of votes. Mixed parliaments everywhere.
Unfortunately this does not change that most people still is way out of paradigm and pro-Europe policies (if this add more pressure to reform Europe in the future is not bad though, not holding my breadth anyway). But is a development compared to the UK situation, where the turn was more reactionary (except in Scotland, which will end up breaking from the UK). There was no "Cameroon effect", politicians here don't blame the EU for all their problems, this plus corruption scandals and criticism of the 'professional politicians' traditional parties has eroded the two big parties and made other, until now fringe parties, raise.
However, good intentions are not enough ofc and something similar to Greece could happen. But is interesting regardless, is like New York or Washington was governed by a populist party, so the permanent unemployment and poor "recovery", terrible performance (rising taxes while enriching a few and keeping unemployment high, corruption, incompetence, etc.) has finally started to erode the status quo.
The conservative party was relaying on "recovery" propaganda and "muddle through", but the strategy failed here. There is a deep distrust on the status quo by most citizens and the result is that traditional powers now barely can hold up around 45% of the votes.
The generals will be coming in November. If there is a slow down of the economy and/or the euro appreciates again the conservative party will keep bleeding votes to the new centrist party, and the pressure by the populists parties will keep raising.
Madrid is disputed, the populist platform (backed by Podemos; as Podemos didn't present itself as a party to municipal elections, instead relied on municipal platforms) was tied with the Popular Party (conservatives), but above the traditional socialist party. It's possible it will end up ruling Madrid in coalition with PSOE (and PSOE ruling the 'autonomy'/region on exchange).
Ciudadanos results were probably lower than expected, but still pretty decent, holding they key to government in many regions and municipalities. Ciudadanos for those who don't know is a 'centrist' party, still out-of-paradigm but bases on 'common sense' (or so they say) and 'common people', nothing spectacular but heavy on anti-corruption.
Podemos (the new anti-austerity leftist/populist party) local platforms did quite good in the big cities, not so good in other places (but holding key to government) but overall decent results.
P.S: As a curiosity, the populist platform, which was the most voted, in Barcelona announced they plan to create a local currency. Catalonia nationalists parties lose strength in favour of the new populists parties and the parliament is really fragmented there.
The conservatives have lost some really old-time strongholds in this elections too (Islas Baleares, Valencia and probably Madrid; and are weak in other places were they have been always very strong like Castilla La Mancha).
A head up: local and regional elections in Spain were yesterday. Very interesting results...
ReplyDeletePopulist platforms in the big cities (Madrid and Barcelona) have they key to power. A turn to the left and the end of bipartidism. Conservatives lose a good deal of power in the administration and executive branches, and a lot of votes. Mixed parliaments everywhere.
Unfortunately this does not change that most people still is way out of paradigm and pro-Europe policies (if this add more pressure to reform Europe in the future is not bad though, not holding my breadth anyway). But is a development compared to the UK situation, where the turn was more reactionary (except in Scotland, which will end up breaking from the UK). There was no "Cameroon effect", politicians here don't blame the EU for all their problems, this plus corruption scandals and criticism of the 'professional politicians' traditional parties has eroded the two big parties and made other, until now fringe parties, raise.
However, good intentions are not enough ofc and something similar to Greece could happen. But is interesting regardless, is like New York or Washington was governed by a populist party, so the permanent unemployment and poor "recovery", terrible performance (rising taxes while enriching a few and keeping unemployment high, corruption, incompetence, etc.) has finally started to erode the status quo.
The conservative party was relaying on "recovery" propaganda and "muddle through", but the strategy failed here. There is a deep distrust on the status quo by most citizens and the result is that traditional powers now barely can hold up around 45% of the votes.
The generals will be coming in November. If there is a slow down of the economy and/or the euro appreciates again the conservative party will keep bleeding votes to the new centrist party, and the pressure by the populists parties will keep raising.
Gracias, Ignacio, por las noticias.
ReplyDeleteMucha suerte.
¿Cómo le fue a Ciudadanos y a Podemos?
¿Quién ganó la Alcaldía de Madrid?
Hi Magpie, I'll answer in English.
ReplyDeleteMadrid is disputed, the populist platform (backed by Podemos; as Podemos didn't present itself as a party to municipal elections, instead relied on municipal platforms) was tied with the Popular Party (conservatives), but above the traditional socialist party. It's possible it will end up ruling Madrid in coalition with PSOE (and PSOE ruling the 'autonomy'/region on exchange).
Ciudadanos results were probably lower than expected, but still pretty decent, holding they key to government in many regions and municipalities. Ciudadanos for those who don't know is a 'centrist' party, still out-of-paradigm but bases on 'common sense' (or so they say) and 'common people', nothing spectacular but heavy on anti-corruption.
Podemos (the new anti-austerity leftist/populist party) local platforms did quite good in the big cities, not so good in other places (but holding key to government) but overall decent results.
P.S: As a curiosity, the populist platform, which was the most voted, in Barcelona announced they plan to create a local currency. Catalonia nationalists parties lose strength in favour of the new populists parties and the parliament is really fragmented there.
The conservatives have lost some really old-time strongholds in this elections too (Islas Baleares, Valencia and probably Madrid; and are weak in other places were they have been always very strong like Castilla La Mancha).