Contrasting approaches

In late March flustered Spanish government officials bent backward to try and impress upon their European Union (EU) counterparts that their economy was not in as bad a shape as Portugal's. The European Central Bank (ECB) was not impressed; said so publicly and down went the credit rating of the country. Obviously the ECB was looking at matters from a different angle. On the other hand, the UK putting cut after draconian cut in to place insists while its' debt situation isn't desperate efforts are required beforehand. To their credit, Spanish officials can point to the massive influx of tourists during the Easter holidays that descended on the popular destinations of Madrid, Toledo, Granada and Seville. Indeed the passion, energy and intensity of the Flamenco dance are wonderful cover to bankruptcy. The streets may have the occasional beggar but not one to confront the passing tourist or citizen. The tourists too, come from many countries that have equal difficulty with their economies and yet are willing to spend hard-earned money even in these days where thrift is the order of the day. But strangely enough prices are still high and there doesn't seem to be any panic on the part of the retail market or indeed manufacturers. And the smaller towns, just as in Italy are feeling the pinch of the young generation deserting for the safe sanctuary of the cities. Ironically the towering cranes are silent by their very lack of movement pointing to the slump in real estate that has dealt a crippling blow to an essential part of their economy. Compare that with the UK where pension-market entries are becoming increasingly worried, teachers are being told they have jobs for now but no certainty in the future and school education costs are being dealt with harshly. The clamp-down on immigration is one that is being welcomed but the 18-25-year olds are still not seeing adequate job opportunities opening up. When Saville Row shops start competing with discount stores the middle-options such as Marks and Spencer can never hope to compete but such is the reality. Spring sales may be an eagerly awaited phenomenon in the US but England depends more on summer sales and in any case the spring has been different in terms of weather patterns. The word "SALE" is predominant in the shop windows as it seeks to lure tourist and non-tourist classes alike. To their credit, the British government isn't seeking to hide anything. One recalls an interview by the chief of Mont Blanc in which, speaking during the recession at its height, he said the company would have to innovate through a new range of value for money products. David Cameron and his coalition have a lot to think of now that they have entered what appears to be another indecisive war. And that's before they test public opinion in the upcoming council elections. (The writer can be reached at e-mail: mahmudrahman@gmail.com)