For some reason, there is a school of thought that Spain’s financial problems will go away if it adopts austerity programs to bring down its deficit. The theory neglects that fact that Spain is in the cusp of what could be a major recession, and a need to bail out several of its states and largest banks.
Spain’s unemployment rate, already over 22%, grew again in January, making the question of whether government austerity should be replaced with government stimulus. The problems is the capital markets investors and eurzone officials want no part of a rise in Spain’s expenditures.
Spanish job losses accelerated again in January, as the number of unemployed residents soared 4% to 4.59 million, a sign that the euro zone’s fourth-largest economy is still shedding jobs at a record rate.
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
