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We are all obsessed about the economy. Not a day goes by without discussing the credit crunch, employment prospects, banks in crisis…and now, even the price of a loaf of bread.
We are all going to starve…penniless and redundant!
I spend a lot of my time on the internet. Most of my work dictates that I am connected to the worldwide web practically all day, and so in between all the important things that I (pretend to!) do, I like to take a look at news sites to keep abreast of Spanish property news and global developments in general.
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bankrupt banks construction credit crunch economy spain spanish tax unemployment a
A few days ago the Financial Times published an in-depth report on the economic situation in Spain. I was so impressed by the article that I have written a brief synopsis of the most important points, as I think it made very interesting and surprising reading.
The downturn in the Construction industry has doubtlessly raised unemployment and caused building firms to go bankrupt, however the situation is not entirely gloomy. Mr Casanueva, who heads JP Morgan Chase in Spain and Portugal is reported as saying, “there’s no reason for a rebound. So the probable scenario is a stable, low-growth situation for several years.”
