The Pain in Spain: An Economy in Crisis

[Synnerligen]

Spain should never have joined the EMU in the first place.

[mikepool2]

The Spanish are painfully short sighted and greedy, this is why they have the problem they have and this is why it will be a slow painful recovery for them, the longer they take to waken up the slower and longer it will take to recover.

The whole recovery could be started by doing some simple things but they can't see or understand the problems.

[93007g]

WTF are you saying? Spain is not good, instead in these days Europe would be better without spain, they are suffering one of the worse economics crisis ever... they are being compare with Venezuela. and they are in TOP 1 in unemployed graphics

[stefanoplusnew]

Turkey is not European country isnot dude about it . But bcos Europe is fill up the white guilt people and non common sense can happen !!!!

[telamon2011]

Here in Greece, we made the mistake of harnessing our economy so close to that of Spain due to geographic proximity, economic similarities and the fact that both countries entered the EU around the same time. As trade increased between the two, Greece, the much smaller, quickly fell into a massive deficit against Spain. Over time, a situation emerged in which Greece has become all but an economic colony of Spain: dependent, unable to compete, and where suffering will increase if Spain goes down.

[JosinFuckYeah]

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[pjboom]

The most reliable and fast solution would be devaluating the currency, but we can't for the fucking €.

[badsign1980]

i dont think putting spain and pakistan together in same phrase is bit stupid..., the only economys that have multinational companies in europe are the uk france grmany sweden austria netherlands that actually matter, many are doomed already because they are connected with oil, fact is that spain port dont have natural resources

[juliamrxula]

If Spain broke = the € broke= Europe......... go to hell ;)

[camera1971]

"The Day of Reckoning " like he said is on the way , and it's going to be UGLY !!!!

Productivity in Spain is down to the levels of Pakistan. Nobody in Spain wants to work ,over 100 days are holidays alone. Nobody in Spain wants to have children ,go to the bars on the weekends and you see 40 and 50 year old partying their life away. Ireland just fell, when the banks start writting off the billions in real estate loses they will be next.

[paladinee]

@camera1971

Thats funny taking into account for example that the avarage Spaniard has less holidays and works more hours per year than the avarage German, French and Brit.

[camera1971]

"The Day of Reckoning " like he said is on the way , and it's going to be UGLY !!!!

Productivity in Spain is down to the levels of Pakistan. Nobody in Spain wants to work ,over 100 days are holidays alone. Nobody in Spain wants to have children ,go to the bars on the weekends and you see 40 and 50 year old partying their life away.

[royalsteven]

Shouldn't have had so many sïestas jajaja

[xoxoykylm]

@royalsteven it's siesta! xd

[royalsteven]

No! It is SIËSTA :P

[DespotStefan09]

Friendly saludo !

DespotStefan

[25500]

from which date is this video please?

[25500]

what a boring interviewer...

[wienerfan]

The Pain in Spain lies mainly in the Seine.

[WAYTOPLUTO]

Spaniards, Brazilians will welcome you with open arms as immigrants like we used to do in the early 20th century by the thousands. Just kidding!. You have treated our people like shit at your airports. You should burn in hell now!

[brenoribeiro2007]

@WAYTOPLUTO That's right, give 'em what they deserve!

[Gary190tube]

Spain is next in line to fail behind Greece, sadly. Every country has huge debts but the credit-rating agencies are marking Spain down because they have little faith in its ability to pay the money back. This is what massive European subsidies do to a country - the wealth is an illusion and only temporary. And Spain has received INCREDIBLE amounts of subsidies from Europe over many years.

[barcelonagirl15]

@Gary190tube we are not greece!our problem is that our president has let to enter millions of inmigrants(he only wants votes)and now spanish we don't have work,you should see spain it's full of romanians and argelians

[Lalmix]

@Gary190tube And england received plan marshall while Spain didn't. And spain is no longer receiving any kind of subside,in fact spain pays now to the new European countries... The problem of the spanish economic crysis is the socialist government. And don't compare spain to greece. Spain is a much stronger country, Spain is even stronger than italy, we will overtake italy, remember what i say, spain is a much more serious country than italy.

[BITARTEN]

I don't know if this guy is gay, anyway he wants to confound people and hide the reality.

I mean, Spain economy is broken. The government incomes are half the spendings.

Incomes: 105 billion euros

Spendings: 200 billion euros.

This cannot be so on much longer.

Maybe this month we will see something about it.

[squarcitto]

Unfortunately it is not only matter of trade balance, Spain has been facing years of continuous increase of total debt... i heard the cumulative size of the total debt is arounf 3 times the GDP, the real problem (my opinion) is due to the politics, the EU and the very low real interest rates in the past years (inflation!) which led the spanish people to increase their consumption(->debt)... The topic is big enough and not a joke. Time to get back to the basic. PS. The same for many other......

[LaCeiba]

Gay?

[XXXHOTXXXWow]

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[ahmedma76]

thx for the video so much generalization in it but nice and not so much headache regarding numbers :D

[JesusManson323]

Spain is a leech economy.

Much of its "new economy" is just Bernie Madoff-style banking sucking blood out of Latin America.

It really says something that Spain did NOT start Europe's Industrial Revolution, despite being an early colonial power that imported massive amounts of gold and silver from North/South America.

[punterpandey]

please do not put "Knowledge at Wharton" in the name of every video - the actual name gets cut off in the display due to limits in youtube.... we KNOW it is a knowledge at wharton video - u can just use KAW if u are so particular

[LupusCamp]

Haben ich da richtig gehört? - stellt der da bei Minute 1:00 Spanien mit Deutschland gleich?

Deutschland ist wesentlich größer und hat wirtschaftlich wesentlich mehr Bedeutung.

[jaleyna]

no he was not saying that the economy of Spain is the same as Germany. He was saying that the debt that Spain has is about the same as that in Germany. I never heard anyone say that before either. Not sure if it's true or not. Sorry I dont really speak German but my husband is German so I know a bit of it, that is why I understood your question. So yea Spanien nicht mit Deutschland gleich, aber Spanien haben gleiche Schuld mit Deutschland.

[Danster82]

it may be well intentioned but in the end its people talking shit becuase they are not willing to address the real issues that governments should not be borrowing money from private banking corporations which are creating the currency from thin air.

If people could actually understand what real wealth is they would clearly see how absured it is that a government could possibly be in debt in the first place.