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For a federal republic like Spain and Germany, loss of territorial integrity becomes a credible scenario...

Especially considering the not insignificant centrifugal forces present in Spain today. This could be good news for Catalan and Basque separatists, among others.

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Mon Aug 29th, 2011 at 04:29:17 PM EST
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The Basque and Catalan right-wing nationalists may successfully negotiate themselves some crumbs of devolution in exchange for not ganging up with assorted leftists in asking for a referendum.

Economics is politics by other means
by Migeru (migeru at eurotrib dot com) on Tue Aug 30th, 2011 at 01:59:13 AM EST
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I am thinking more about effects two or three years on, when conditions have really started to bite all over Spain -- assuming it remains austerity, steady as she goes.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Tue Aug 30th, 2011 at 07:54:47 AM EST
[ Parent ]
The odds are of a 4-year majority PP government. So 4 years of biting austerity is what we're getting.

Economics is politics by other means
by Migeru (migeru at eurotrib dot com) on Tue Aug 30th, 2011 at 10:09:48 AM EST
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