News, October 2008

October 12th, Spain's National Day

National Bank holiday weekends are always subject of great excitement, as people plan to go away, hopefully for a 'Puente' or bridge weekend, involving a couple of extra days while they are about it. The October 12th weekend is particularly looked forward to as the half way point between the end of the summer holidays and Christmas. It is an excuse for a get-away to the beach (for the last time), or to the mountains, or even a European city break. So travel agents rub their hands with glee if 12th October is a Thursday or Tuesday. This year 12th October will fall on a Sunday. Add to that the credit crunch and it's a good excuse for staying at home. Holiday hotels at seaside locations are closing early.

But October 12th is still Spain's National Day. It is the day of the Virgin of the Pillar, Zaragoza's patron. This year, Zaragoza has been in the news due to the Expo and no doubt the locals will want to celebrate their success in keeping the crisis at arm's length so far. It is also the day that Christopher Columbus discovered America, giving rise to one of the world's greatest ever empires. Spain has much to remember, but also a lot to celebrate in the present. Despite the horrendous housing crisis, some of the worst effects of the crisis have so far been avoided. Spain may go into a recession, but most Spaniards have never had such a good one! yes, it's an occasion for cancelling one weekend away.

But many in Spain are wondering when the crisis will finally hit. Already over 11% (2.6 million) are unemployed, car and house sales are down over 30% and mortgage and other loan defaults are rising. Is it time to turn to God? It may need to get worse yet! But many will this October 12th be laying flowers at the feet of the 'Virgin of the pillar'.