Public Wage Cuts, Lowers Growth Outlook and prizes of real estate

The following article is taken form the web. We think the conclusions are pretty obvious. have a look. May 21, 2010 -- Spain approved the first public wage cuts since returning to democracy in 1978 and reduced its economic growth forecast for next year as the government tries to tame the euro region’s third-largest budget deficit.Gross domestic product will...

Spain Is On The Brink Of Financial Collapse Because Nobody Pays Taxes

Spain threatens the strength of the euro currency union far more than Greece, given the much larger economy. And it turns out that, just like Greece, Spain has a horrendous tax-dodging problem. Which means lost tax revenue the Government has to borrow money for.For Spain, such tax shenanigans center around the property market where reportedly half of landlords...