Deepening crisis of capitalism in Spain building up to a social explosion
May ended in Spain with frantic
attempts to prevent the collapse of the banking system, saddled with a
massive amount of toxic loans linked to the housing bubble. The
government attempted to involve the European Union in the rescue of
Bankia, while there were rumours of IMF plans for a bail out of Spain.
Meanwhile miners have gone out an all out strike in defence of jobs.
