Voters in Spain began heading to the polls on Sunday for a national election that that is expected to mark the end of the nation's long-standing two-party political system with the anti-austerity Podemos party helping to upend the status quo.
Watch for the IMF and the ECB to come down heavy on the people of Spain if they freely choose to elect a strong anti-austerity slate.
It is not the critic who counts, nor the man who points how the strong man stumbled or where the doer of deeds could have done them better.
The credit belongs to the man who is actually in the arena; whose face is marred by dust and sweat and blood; who strives valiantly...who knows the great enthusiasms, the great devotions, and spends himself in a worthy cause;
who, at best, knows the triumph of high achievement; and who, at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who know neither victory nor defeat.
Keep in mind that Spain is not Greece-far from it-and that the economy is recovering, unemployment is dropping dramatically, exports are way up. As the article points out, some kind of coalition is the most likely outcome of this election, which means that Podemos' anti-austerity thrust will be slightly deflected if the outcome involves a partnership with the PSOE.