There are places in the world where the majority of people are doomed to live no better than their parents and grandparents did. Places where a poor child from the slums might as well dream of being an astronaut as dream of having a decent middle-class job. Places where the children of the rich get even richer while the children of the poor stay poor.
NATO has consistently blocked any attempt to scrutinise the war crimes it committed during the ‘humanitarian intervention' in Libya. Back in January Faiz Fathi Jfara of Bani Walid asked a simple question, “I just need an answer from NATO: why did you destroy my home and kill my family?” NATO refuses to answer him.
Los Angeles has an ordinance that fines banks for leaving foreclosed homes in disrepair. So why are so many of them blighted, dragging down whole neighborhoods? These enormous economic shifts imprint people at an incredibly deep level. We feel it. When we wake up in the morning. We are going through the pain of this one. We are having our lives changed by this one. We take with us through our days the big sack of worry for our kids with this one. It’s on our streets. You see it in the overgrown lawns and boarded-up windows of some of those bank-owned homes.
Until flaws in the euro are addressed, the crisis is likely to simmer on. Spain's banks are in a world of trouble, as you've undoubtedly heard. They are strained by loans made over the course of a a building boom that went bust in 2008, two recessions in the last three years, and the highest unemployment rate among developed nations. Misguided austerity policies have only made things worse.
Greece, Portugal may see Spain's bailout as motivation to renegotiate their own rescue packages. Spain's €100billion bailout this weekend has prompted fury in some Greeks who see Spain's rescue funds as free from the troika-imposed austerity conditions attached to their own bailout.
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