Unemployment a social time bomb for Spain

spanish news · 01-01-2009, 13:44

Unemployment in Spain has been one of the biggest issues discussed in Spain towards the end of 2008. In the new year it looks like things are about to change, unfortunately for the worse.An article on Reuters*reports on the rising unemployment in Spain last year and the grim outlook for years to come: “Unemployment at [...]

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country boy · 01-01-2009, 19:52

I have no doubt that 2009 is going to be an interesting year globally, not just in Spain. I really do feel however that, taking the long term view, only good will come of it.
Life has become just too easy for everybody and the bubble had to burst.When the dust has settled, perhaps normality will return to the financial sector, upon whose shoulders this present crisis must surely lie. It was their lending, mainly in the sub-prime market, to people who would by historical criteria, be totally un-creditworthy, that has led to this crescendo of calamity. Whatever hapened to the 2&1/2 times your income rule for maximum lending on morgages? As for third world debt....well...

01-01-2009, 13:44	#1 (permalink)
spanish news spanish news is.... Spain Guru Join Date: Nov 2008 Location: Spain Posts: 897 Thanks: 0 Thanked 3 Times in 3 Posts Rep Power: 30	Unemployment a social time bomb for Spain Unemployment in Spain has been one of the biggest issues discussed in Spain towards the end of 2008. In the new year it looks like things are about to change, unfortunately for the worse.An article on Reuters*reports on the rising unemployment in Spain last year and the grim outlook for years to come: “Unemployment at [...] Read the full news article...

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01-01-2009, 19:52	#2 (permalink)
country boy country boy is waiting to join in! Spain Expert Join Date: Oct 2008 Location: Pizarra, Prov.de Malaga. Age: 66 Posts: 317 Thanks: 18 Thanked 43 Times in 39 Posts Rep Power: 27	I have no doubt that 2009 is going to be an interesting year globally, not just in Spain. I really do feel however that, taking the long term view, only good will come of it. Life has become just too easy for everybody and the bubble had to burst.When the dust has settled, perhaps normality will return to the financial sector, upon whose shoulders this present crisis must surely lie. It was their lending, mainly in the sub-prime market, to people who would by historical criteria, be totally un-creditworthy, that has led to this crescendo of calamity. Whatever hapened to the 2&1/2 times your income rule for maximum lending on morgages? As for third world debt....well...

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