Reply To: Spain and UK seem to be competing for biggest fall in ’09

Spanish Property Insight Forums Spanish Property Forums Spanish Real Estate Chatter Spain and UK seem to be competing for biggest fall in ’09 Reply To: Spain and UK seem to be competing for biggest fall in ’09

#90018
rt21
Participant

Just read article about the ECB’s decision not to reduce their bank rate. In it the European economist at Barclays Capital quotes Spain as “imploding”. In the same article Graham Turner from GFC Economics states that “this is a major risk for euroland because the damage in Spain, Ireland and Eastern Europe is starting to panic people.”

Although I have no idea whether these comments are valid nor whether Spain is in any worse position than the UK, they certainly paint a very alarming economic picture of Spain

Richard