I see the pound is still falling. Which is bad news for my visiting British friend. And it’s very cold comfort to know that, if Spain were not in the EU, the peseta would probably have devalued even more than the pound. This prompts the question of whether membership of the EU is forcing Spain to make the forecasted structural changes to its economy or whether the political necessity of keeping Spain in the EU come hell or high water is allowing the government to carry on regardless. Without even having to devalue. Edward Hugh has suggested that, this being the case, things here will soon be so bad the IMF and/or the EU will effectively have to take over the management of the Spanish economy but one does begin to wonder. Especially as, over at IBEX Salad, Charles Butler seems more positive than ever about the Spanish banking sector. If I understand him correctly.
On the northern edge of the city of Pontevedra there’s a lovely old building which is run by “The Little Sisters of Forsaken Old Folk” (Las Hermanitas de los Ancianos Desamparados). I’ve often wondered about the value of its prime location in a residential area so I wasn’t too surprised this week to read the nuns had agreed to open a commercial enterprise on the ground floor. But I was a bit taken aback to see this would be a funeral home. Perhaps they’re counting on all the new residents being so gaga they don’t notice the ‘one-stop’ approach.
I see we may get some sun on Friday. Which is good news, as it’s now been raining pretty non-stop since Saturday evening. We do get a lot of weather here sometimes.
Finally . . . One gets some odd things with one’s beer at times. I’ve just been given a plate of Bombay mix (sort of) with several jelly babies on the top of them. Quite nice, once you’ve got rid of the salt on them. Like teenage daughters, I guess.