Spanish Economy



Spanish Economy

Recession has made Spanish government to cut the state budget. Cut in state budget and credit crunch could force spain toward economic stagnation. It may have to seek for an international aid from Greece. Forced by the European Union to reduce the deficit and to comply with the new budget rules, the Spanish Prime Minister Mariano Rajoy said that the budget would be very tight this time.

While the Spanish economy is already on the verge of its second recession in three years, unemployment exceeds 22% and that the costs of bonds has gone up. Some economists ...