Spain Fears from the Economic Crisis in Greece

Spain is also experiencing an economic downturn, but according to financial experts, the situation is not as bad as it is in Greece. Although Spain was once one of the biggest sources for jobs in Europe, its unemployment rate of 20.05% in 2010 is now the highest in the euro zone, and is a major problem for the country. This high percentage of jobless people is an obstacle for the government to cope with the economic stagnation. According to Fernando Fernandez Mendez de Andes, a professor of economics at the…

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Will the UK follow Greece’s Financial Crisis?

Some believe UK is going to follow Greece’s economic pitfall. There are several reasons, however, why UK could resist. Both countries’ deficits are scarily similar: Greece is at 13.6%, and UK—at 11.5%, as the maximum an EU member should have is 3%. Both governments are not quite clear how they plan to reduce these numbers to the accepted limit. UK, however, has a strong bet, and that is its own currency—the pound, which gives it independence. “It UK could, if it wanted to, devalue its currency, and that would relieve…

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