Given the ridicule heaped on the economic proposals of Podemos, my impression is that they are not actually that far outside what is possible if you run some basic numbers.
How much room does Spain have in raising taxes? Currently Spain collects about 37% of the GDP in taxes, for a total of about 500 billion euros. Germany (who we must all now worship as the model of economic success) collects 45% of their GDP in taxes and is doing quite well. If Spain raised their taxes this amount, there’d be about 100 billion euros of additional spending capacity.
The 600 euro a month basic income, multiplied by 47 million residents would come out to about 30 billion euros. However, much of this would find its way back to the government in forms of taxes collected (since it is likely people would spend this).
Spain is actually incredibly stingy when it comes to social transfers in general. For people with less than 50% of the median income, only 14% of their income comes from social transfers, vs 47% in Germany.
The belief that the only agency capable of making change is the European Central Bank (which by design is supposed to be independent of elected officials) is to me a stunning abdication of the responsibilities of national governments.