If terrorist attacks on innocent civilians are an example of the vilest aspects of human nature, the response of those same civilians to such outrages can provide evidence of the finest of human qualities.
The pouring into the streets of 11 million Spaniards – one quarter of the population – to protest against the bombing of their commuter trains and the deaths of 200 passengers three days earlier, shows a nation holding together in adverse times.
The Spanish psyche may never be quite the same again but outwardly huge efforts have been made to carry on business as usual. The election went ahead as planned and if the result was different from the one that the pollsters predicted (they frequently get it wrong anyway), then that is the essence of democracy.
Looking further ahead economic forecasters (although they also can be wrong) do not expect changes in growth patterns and Spain should expand 2.8% in 2004, up from 2.4% last year. Exports should grow 7% compared to 4% in 2003 and private consumption at 3% will be well ahead of the EU average (See Spain report on page 49).
On a more anecdotal level, The Banker’s correspondent, charged with writing an economic and political report on Spain in the days after the bombs, had not a single meeting cancelled and received the same level of attention as if he had arrived in less troubled times.
For a country that is a young democracy and that has had to contend with its own tumultuous past, Spain is a remarkably mature nation and it would indeed be fitting if finance minister Rodrigo Rato was now made managing director of the IMF (see Karina’s Kolumn, page 24).
Tragic as the bombing was, Spain’s answer – to carry on business as usual – was definitely the right one.
