Why Spain Is Not Greece
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I believe that Spain will follow soon...
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But Spain does have deep-rooted problems with its workforce and competitiveness. Also Spain has been relying too heavily on EU subsidies in the past, and these are now going to eastern europe. Spain has many strengths - as you say sunshine, beaches, fresh food to export and some good infrastructure (again largely thanks to EU handouts!) but during a global downturn tourism will be hit. Most countries in europe have debt issues but I feel things will go badly for Spain. Let's hope not.
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There is about to be a domino effect world wide collapse of the monetary system
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You could well be right Redline. However that doesn't change the fact that Spain is not Greece. What it does mean is that speculators have too much power in our capitalist society. Meanwhile I am much more worried about Colony Collapse Disorder in bee colonies because if the bees go we are in deep doo doo.
Valprop 1 year ago