Valencia: A Spanish city without medicine

 

Why is Spain Broke, lets look at Valencia and see..

"The Route of Waste, projects Valencia built in the good times”

1. There is the Formula One racetrack, which runs right through the city so the roads had to be redesigned. But the city has lost its Formula One race.
2. There is the America's Cup dock, with huge sheds for ocean-going yachts and a massive white control tower. But there is no more America's Cup racing in Valencia.
3. There is the Opera House, a cross between the one in Sydney and something you would imagine only in your more disturbed dreams - 400 million euros to build, 40 million a year to run - 15 performances a year.
4. The airport that has never seen a single plane land.
5. The theme park built in a place where the summer heat rises above 40C (104F).
6. The land bought at premium prices that is now worthless.

have you got stories of waste of money on a national scale e-mail us.

Eurozone agrees new 109bn euros Greek bailout

Leaders of the Eurozone countries have agreed a new bailout package for Greece worth 109bn euros ($155bn, £96.3bn).

For the first time, private lenders, including banks, are also pledging support which will give Greece easier repayment terms.

The deal, struck at an emergency summit of the Eurozone's 17 member countries, also involves support from the International Monetary Fund (IMF).

Banks and other private investors will contribute 37bn euros to the package.

The Greek Prime Minister, George Papandreou, welcomed the deal: "We now have a programme and a package of decisions which create... a sustainable debt management for Greece.

"And this in the end of course will mean not only the funding of a programme but it will also mean the lightening of the burden on the Greek people."