Spain to the mercy of markets and with little signs of recovery

Wednesday, August 29th 2012 - 02:22 UTC

Full article 6 comments

Spain’s recession worsened in the second quarter as the government’s austerity push to reduce the Euro area’s third-biggest budget deficit and a slump in consumer spending offset growth in exports. Read full article

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ChrisR
Van Rumpuy. An edifying spectacle of everything that is wrong with the EU.

Spain will eventually leave the Eurozone and go back to the Pesos. Their problems are so great and getting worse by the day that their fate is all but sealed.
Aug 29th, 2012 - 12:01 pm - Link - Report abuse 0
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Condorito
Chris,
The Euro is like the Hotel California - you can never leave.
This crisis is the perfect opportunity for the undemocratic European political elite to force deeper political union.

To stop the break up, debt will have to be mutualised. To mutualise debt, Germany will want centralised control over national budgets.
Aug 29th, 2012 - 02:00 pm - Link - Report abuse 0
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Conor
Let the EU die! May it be forgotten about, nothing but a 40 year experiment in disaster.
Aug 29th, 2012 - 05:10 pm - Link - Report abuse 0
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aussie sunshine
*1 pesos?? you mean pesetas.
Aug 29th, 2012 - 05:41 pm - Link - Report abuse 0
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ChrisR
4 aussie raincloud

I say pesos, you say pesetas, let's call the whole thing off! :o)
Aug 29th, 2012 - 05:56 pm - Link - Report abuse 0
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British_Kirchnerist
Austerity isn't working, is it?!
Sep 04th, 2012 - 01:25 am - Link - Report abuse 0
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