"Output between July and September was unchanged compared with the previous three months, and up just 0.8% from a year earlier. It follows a negligible growth of 0.2% in the previous quarter. Domestic spending continued to contract, the Spanish statistics office said, although this was offset by a rise in export demand.
The government faces a 22% unemployment rate, meaning lower income tax revenues and more benefit payouts.
Spanish borrowing costs have risen sharply in the last two months. The implied cost to the government of borrowing for 10 years peaked at 5.9% on Thursday, up from 5% in early October, although it fell back slightly in in early Friday trading."
It's a complicated situation in our country. I don't know how we can survive it... but it worries me, because it isn't only my present, is my future. Our future. Is so distressing think about it... what about our dreams? Sadly, we are into a capitalist world and we need money to be "happy". I'm not saying that money give us hapiness at all, but in the most part. All we need is COMPETENT POLITICAL and ECONOMISTS. Where are they? Do they exist...?
It affects me because I live in this country, so I have to live this situations too. We had great moments, and now we have to stand up and never give up. Will it be difficult? Of course it will. But in the end, all we are one, so we have to help ourselves and try to be happy in spite of this problems. But it would be great a collaboration of the politicals...
Incredibly sad, as you said.
ResponEliminaMy vision about it is trying to be optimistic, but it doesn't work. The situation is critical.
I also have to say that we all think that Spain is very backward, true, but we're not the only one country in Europe (and I'm not talking about Italy, Greece or Portugal, their situations are obvious, I'm talking about French, and Belgium also! Soon, they also will fall, you'll see.)
Pauli