Spain in crisis as Europe crumbles
The economies of Germany, France and Italy all contracted in the first quarter and may now be in full recession, shattering assumptions that Europe would prove able to shrug off the effects of the credit crunch.
The picture is darkening so fast in Spain that Prime Minister Jose Luis Zapatero cancelled holidays and called his cabinet back to Madrid yesterday for the first emergency session of its kind since the Franco dictatorship. The crisis meeting...
Spain in crisis as Europe crumbles - Telegraph
Imagine if you will that a couple of Spanish airlines go bust this winter. Not a difficult thing to do given their crashing economy, slumping housing market and rocketing unemployment. Do you think those hundreds of experienced, jet rated pilots will:
a) Apply to Iberia and sit at home waiting for the phone to ring, or
b) Send their CV's to every airline in the UK that you were hoping to apply to
The JAA license only came into existence this century and we have yet to see what difference it will make in a widespread recession. Given the average Brits lack of a second language and the nepotism prevalent in many other countries I can only think the difference will be that things will be worse this time.
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