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Sterling Journal 24

Posted by: sterlina | May 11, 2010 | No Comment |

One major piece of news in Spain right now is that they are officially coming out of their recession, after their GDP grew for the first time in over a year and a half. Given, the growth was 0.1%, but that is substantially better than losing GDP. This is very promising for Spain, which is worse off than most countries in the European Union because of their massive debt. While the unemployment is still very high (double the US unemployment -20%) many economists feel that Spain is now through the worst part of the recession and has nowhere to go but up. They are also now taking active efforts to not become the next Greece, which has gotten a lot of publicity lately while being ripped for their terrible economic policies. Spain is doing everything in their power to deal with their own problems honestly and come out of this recession by making prudent economic decisions, not by burying themselves in further debt like many countries in similar positions have done.

under: Andrew, Reflexiones

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