Spanish co-op weathers financial storm

The world’s largest worker-owned co-operative remains strong despite Spain’s financial woes.

Spain co-operatives

Spain is deep in debt, and its economic woes are causing misery for many.

But the country is also home to to the world’s largest worker co-operative, the Mondragon group, which employs more than 80,000 people across 256 companies and has expanded into 18 countries.

The co-operative is owned by its workers, and power is based on the principle of one person, one vote.

It is still flourishing half-a-century after critics said it would never survive and, for now, the system appears to be weathering the financial storm.

Al Jazeera’s Sonia Gallego reports from Mondragon.

Source: Al Jazeera