2013-08-05

Yet More Tension in Europe

Don't listen to economists on the euro. Follow social mood, it will lead the way.

Gibraltar minister: Spain acting like North Korea
In a dramatic escalation of the clash over the British territory, Spain has warned that it is ready to impose a new border tax and investigate the affairs of Gibraltans with Spanish economic interests.

Fabian Picardo, Gibraltar’s chief minister, said that Jose Garcia-Margallo, Spanish foreign minister, was acting like General Franco, the former dictator.

Mr Picardo said "hell will freeze over" before the authorities in Gibraltar remove an artificial reef which Madrid claims is harming Spanish fishermen, adding that any border costs would violate European Union freedom of movement rules.

Spain is also considering closing its airspace to flights heading to the Rock. Mr Picardo claimed such a move would be dangerous and said it was the "politics of madness".
Yes, it's a British paper looking to drive traffic and if you do not have a big stick, you must speak loudly, so Gibraltar is screaming. However, notice that Britain is running into trouble with Argentina (Falklands) and Spain, two nations in serious economic distress. If mood improves, this will be a story of great rhetoric and little import. If instead social mood continues to decline, what is rhetoric today will escalate into actions later.

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