Spain looks like it will be the next domino to fall in the Eurozone crisis

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Over 100 billion euros have left the country in the first three months of this year – that’s more than a tenth of Spain’s GDP. Fears are growing that just like Greece – Spain will soon need a euro bailout. But unlike Greece – Spain is a huge economy – the fourth biggest in Europe – meaning a bailout would be a lot more expensive – and a default would be catastrophic for the euro.

Meanwhile in Ireland – voters took to the polls to approve a new EU treaty that requires Ireland and other Eurozone nations to meet budget deficit goals through brand new austerity measures. Polls indicate the treaty will likely pass – however results aren’t expected until this evening.

Thom Hartmann Administrator's picture
Thom Hartmann A...
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Dec. 29, 2009 9:59 am

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And the European economic cancer will spread to the US.

lovecraft
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May. 8, 2012 11:06 am

I hope this doesn't mean that Desigual is going to close.

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nimblecivet
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The Death of the Middle Class was by Design...

Even in the face of the so-called Recovery, poverty and inequality are getting worse in our country, and more wealth and power is flowing straight to the top. According to Paul Buchheit over at Alternet, this is the end result of winner-take-all capitalism, and this destruction of the working class has all been by design.

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