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

3 posts / 0 new

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...
Joined:
Dec. 29, 2009 10:59 am

Comments

And the European economic cancer will spread to the US.

lovecraft
Joined:
May. 8, 2012 12:06 pm

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

nimblecivet's picture
nimblecivet
Joined:
Jul. 31, 2007 4:01 pm

Currently Chatting

First Columbia took on their drug lords, now they're taking on their billionaires...why can't we?

America’s billionaires are driving this nation’s poverty epidemic. But it doesn’t have to be that way.

As we speak, working-class Americans are getting screwed over by policies that favor the wealthy elite, and leave everyone else in the dust. As a result, more and more Americans are living in poverty.

Powered by Pressflow, an open source content management system