Recession bites! Tuesday, July 7, 2009

This week it’s been impossible to open the paper without seeing at least one article denouncing the likelihood of me graduating with a job in October. With at least 50 graduates applying for every position, the odds are, unfortunately, stacked against me. It’s doom and gloom reading.

But it wasn’t ’til today that the reality of Recession finally hit home.

When I was in Madrid I didn’t get on with my housemates. As a result I used to spend as much time out as possible. My favourite hideaway was a small cafe on the Glorieta de San Bernardo – just opposite the metro station. First discovered on a particularly windy day back in October 2005, we were enticed inside by the prospect of proper toast and jam – not this pan de molde rubbish. 4 months later, when I moved into the city from Majadahonda, I discovered I lived right round the corner and the rest was history.

I’ve been back to Madrid twice since I left in 2006 – both times I was warmly welcomed back by the owners Luis and Jose – and as a result whenever I think of my time in Spain I invariably think first of the cafe, sitting in the corner reading some book or another that I’d picked up from the second hand bookshop round the corner.

Today though, I found out that the cafe closed. It was no longer making any money. There’s no room for sentimentality in a Recession.

With the amount of media coverage dedicated to the effects of the credit crunch here in the UK, it’s easy to put on the blinkers and think that it’s only happening to us. But Spain has been deeply feeling the crunch since the beginning of the year and analysts expect it to be the worst they have faced for 50 years. We are not alone, so why are we seeking out individual solutions.

I’m not an economist, I have no financial background -  save for 6 weeks as a PA in a bank, but it would seem we are all fighting the same battle and yet are fighting against each other. Consequently, it is the little people who suffer.