Skip to content
Subscriber Only
Markets
Economics

Mariano Rajoy's Next Challenge Could Come From an Unlikely Source

  • Spanish Prime Minister Rajoy risks losing pensioners’ support
  • Inflation eats into pensioner spending power as economy grows
Spanish Pensioners As The Cost Of Elderly Care Increases
Photographer: Antonio Heredia/Bloomberg
Updated on

After working for 47 years, Spaniard Alfonso Blas says the paltry pension increase he’s being offered is a scandal.

“They tell us the crisis is gone, so why is my pension going up by one euro?” the 65-year-old retired bank branch worker asked. “I worked my entire adult life -- this didn’t come for free.”