Spain’s economy slides into official recession in the first quarter of 2012. Rajoy has also announced he will impose further ministerial spending cuts of 15% across the board and freeze public sector salaries.
Regional government spending which has been out of control in the last decade has taken it’s toll on the nations finances.
With the truly awful unemployment levels particularly among the young it’s surprising there has not been more civil unrest. The Spanish seem to be accepting their fate.
A general strike has been called in Spain for 29th March which will only cost the economy more and achieve nothing.
Everything you need to know about property in Spain
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.