conflagration: After the crash in Greece and Portugal, the nÄ Next financial meltdown for the EU is now in Spain. These days politicians and journalists look transfixed by Greece and Portugal. Man has not the slightest idea how to help these financially bankrupt States permanently in the funding streams of the "rich" EU Member States. Now Spain has released figures that no one has apparently taken note. The EU (the European tax payers) should ever thought make about how they want to Greece and Portugal also have the same pull Spain out of the swamp ...
happened in Spain, what the EU and Spain have still a few weeks for allegedly "impossible" held: unemployment of the population has increased to more than twenty percent. Spain has only half the population of Germany, but a million more unemployed (currently, according to official data of the Bureau of Statistics 4.6 million). The figures were for a few minutes on the website of the national statistical agency, were then taken offline. For the most immediate consequence of the English credit downgrade would have been.
Spain has a bigger budget deficit than the bankrupt Portugal, now has to spend in the state budget more for the unemployed than for pensions. One in two young people are unemployed in Spain. The bankrupt socialist government now throws the last money out the window, with several billion euros the government plans to support the construction sector alone, to be built or rennovated, get people back into work, especially apartments. This entire neighborhoods are empty, because in the past, too many Houses had been built. Billions more will be invested in railway and road projects.
This is Spain now - just as Greece and Portugal - bankrupt.
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