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Has Spain Contracted The Artemio Cruz Syndrome?

Well to get straight to the point, in good old basic Econ 101 direct fashion, at this moment in time everything about the Spanish economy is either going dramatically up, or coming dramatically down.

On the upside we have consumer price inflation, producer prices, unemployment, unpaid bills of exchange, and the current account deficit.

RGE - Has Spain Contracted The Artemio Cruz Syndrome?

Y del Telegraph:

European recession looms as Spain crumbles

The crunch engulfing Spain's property market is rapidly turning into a full-fledged national drama. The developers' association APCE said house prices had already fallen 15pc since September.

Deutsche Bank said the property crisis is more serious that the collapse in the early 1990s. It expects a 35pc fall in real house prices by 2011 as the market slowly clears the vast overhang of property, now estimated at nearly 700,000 homes.

In Castilla-La Mancha - Don Quixote's region - some 69pc of all houses built over the past three years are still unsold.

European recession looms as Spain crumbles - Telegraph


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