Earlier this year, I wrote a couple of articles about the problem assessing the true scale of debt in Spain. This was at the time that Prime Minister Zapatero was being applauded by the EU for bringing in austerity measures to bring the national debt and spending of Spain under control. My concern was that the EU and other economists [...]
Debt crisis in Spain
So, what is there to say about the debt crisis in Spain – or, at least, what can we believe and what really is the situation? Frankly, I really do not know and I am not at all sure that the recent stress tests of EU banks provide much of a clue. Certainly, when the ‘same’ banking stress tests were undertaken [...]
THE SPANISH ECONOMY, SPANISH DEBT, SPANISH BANKS AND FURTHER POTENTIAL AUSTERITY MEASURES!
The Spanish economy, Spanish debt, Spanish banks and further potential austerity measures! Part 2 While public sector debt (not the deficit) in Spain is actually relatively low as a percentage of GDP versus other countries such as Italy, Ireland, Greece and Portugal, Spain’s public sector deficit for 2010 will be around 11.3%. So, the Spanish government has announced several austerity [...]





