I think Paul Krugman's column today in the NY Times captured best the lunacy and viciousness of the European Central Bank's monetary policy. They are all for bailing out the banks, the very criminals who got Spain into this pickle, but won't lift a finger for the working women and men who were and are the innocent victims of the crisis. Instead the technocrats and plutocrats who love them patronizingly talk of the need for the peones to embrace austerity as if its the path to spiritual transformation.
What's next? They bring back Torquemada and Spanish Inquisition to torture the Spaniards into see the light? I'm sure the Republican-dominated US Congress won't be far behind, and poor Barack Obama will be forced to sell another piece of his ever-dwindling soul to hop on that band wagon.