As a country still stuck in a recession, with high rates of unemployment and an enormous deficit, Spain faces the risk of losing investor confidence and entering a severe fiscal crisis.
One expert recommended that the Spanish government "increase the workweek." Hey, Andalucía, there's a thought!
* * *
"Europe so far has survived the bailout of Greece. The financial rescue of Ireland also is manageable. Even if Portugal becomes the third country to succumb and seek aid, as many people widely predict, it is unlikely to push Europe to the financial brink.
But any bailout of Spain — with an economy twice the size of the other three combined — could severely stress the ability of Europe’s stronger countries to help the financially weaker ones, and spell deep trouble for the euro, Europe’s common currency. Even though Spain, like Ireland, has adopted an austerity plan to help it avoid the need for a bailout, it still could need aid if its banking system proves frailer than the government thinks it is, as was the case in Ireland."
No hay comentarios:
Publicar un comentario