Rajoy Drives Spanish Revolution With Low-Cost Manufacture
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Spain’s turn toward wage cuts to restore competitiveness without leaving the euro is starting to bear fruit. At least that’s how it seems for Pablo Garcia, a 34-year-old autoworker who just got hired after a year out of work.
“This has been the best Christmas gift I could ever have imagined,” Garcia said as he prepared to enter a PSA Peugeot Citroen plant on the Madrid outskirts for the afternoon shift. “In the factory there’s a good atmosphere; people are optimistic about the future.”