Italy and Spain are suffering Great Depression levels of unemployment. Collectively, there population is roughly 105 million, which is nearly one-third of the eurozone’s total population of roughly 330 million.
An economy like Spain is suffering from grotesquely inadequate demand. Monetary policy can make things worse, but it cannot produce a rapid recovery in such circumstances. Fiscal policy can.
Spain is so large and its unemployment is so severe that “Almost a quarter of all the unemployed in the 28-country European Union live in Spain
This is a syndicated repost published with the permission of Sober Look. To view original, click here. Opinions herein are not those of the Wall Street…
In spite of some positive economic signals out of the Eurozone (see Twitter chart), the area continues to struggle with credit growth. The latest loan growth measures still look quite bleak. We may however be seeing the first signs of the bottoming out…
It is remarkable just how much faith the markets are placing in the Eurozone’s stability these days. This is especially surprising given that less than a year ago we were staring at the collapsing Spanish banking system and the nation’s government’s in…
This is a syndicated repost published with the permission of Sober Look. To view original, click here. Opinions herein are not those of the Wall Street…
This is a syndicated repost published with the permission of Sober Look. To view original, click here. Opinions herein are not those of the Wall Street…
CNBC ran an interesting story today about the possibility that Spain may begin an economic recovery fairly soon. In particular, two items that are worth pointing out may provide some tailwinds for Spain’s economy.1. Exports:CNBC: – … a healthy export…
This is a syndicated repost published with the permission of Sober Look. To view original, click here. Opinions herein are not those of the Wall Street…
