by William Saas, Jorge Amar, David Glotzer, and Scott Ferguson
This article is the full text of a three-part series on Spain’s economic crisis, the program of the new leftist political party Podemos, and both the limitations and potential of the Spanish left today. The authors point to the importance of employment policy (and especially a job guarantee) for pulling Spain out of the crisis, the necessity of a “left exit” (lexit) from the euro, and the relevance of Modern Monetary Theory (MMT) in transcending conventional balanced-budget thinking.
They are beautiful sights, the public squares of Madrid—open spaces, lush gardens, and sparkling fountains, all surrounded by striking architecture dating from the city’s days as seat of a colonial empire. These ornate public spaces now serve as makeshift residences for a growing number of Spanish dispossessed. After nearly a decade of austerity, depression, chronic unemployment, and perpetual political submission to the dictates of the Troika (the International Monetary Fund, European Central Bank, and European Commission), thousands displaced from work and home are left with little choice but to seek refuge in the few parcels of public infrastructure that remain available to them.
Improvisation is the name of the game for members of the new Spanish precariat. At Madrid’s main square, the Plaza Mayor, newly homeless citizens (some highly educated) rise early for work busking or selling scrap metal. Throughout the country, members of the growing reserve army of ninis—or “neither nors,” the quarter of the young Spanish who are neither in school, nor employed, nor in training programs—forage for food to take home to their squatted apartments. Los irrecuperables (“unrecoverables”), the more than half of long-term unemployed Spanish over age 50, are meanwhile forced to figure out how to subsist on severely reduced pensions and the charity of their fellows.