Spain’s economy is in tatters

I have been amassing a lot of Spanish-language links in the past two weeks or so. And with the news that unemployment has finally climbed to a record above 6 million, I think now is the time to post them. Again, in the wake of the Reinhart-Rogoff controversy, there is certainly going to be a push forward toward stimulus. And Spain is going to be a leading player here. The problem for Spain is that the country is beset by deflationary forces from all sides - local government fiscal problems, banking sector recapitalization, deflating mortgage market, record unemployment.
And yet, the euro acts as a huge impediment to a more expansionary fiscal path. The Spanish have gone through one crisis already and were forced to go cap in hand to the Troika as a result. There is no political appetite fo...


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