What hope have they got in Spain? Unemployment at 20%...

You could ask, can the £ survive when different parts of Britain are performing so differently.

Kent

That is a silly Statement!! Although it is absolutely true that different parts of the UK are fareing very differently! On the whole though, the UK appears to be holding its own fairly well

I think there's a big black economy in Spain, with people doing cash in hand work.

Aren't most of the construction industry doing cash in hand work in the UK?

The frenzied speculation in the Spanish property market in recent years has created a far greater housing bubble than the U.K. one. People borrowed money to invest in buy to let apartments that they thought would continue to rise in value. Well, the bubble's burst big time and the Spanish economy is in freefall. Lots of people have got their fingers burned. You got to watch this video all the way through to appreciate the scale of the bubble and its collapse. And this is just one construction project. Jaw dropping stuff, so it is.


http://www.youtube.com/watch?v=ccJp6C1xdZ8&fmt=18

A Massive %% of the Euro 500 notes are in Spain, nickname "Bin Laden`s" the dark economy money.
This Piers Morgan programme on itv player gives a good insight.
http://www.itv.com/itvplayer/video/?Filter=116371

funny to hear british people moaning about other euro countries....

banco santander will take out the mar 09 low

Unemployment rates in Spain have always been high-this does not always reflect economic activity if you understand.

Kent Brockman 29 Jan 11:20
You could ask, can the £ survive when different parts of Britain are performing so differently.

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You could, but you would be laughed at.

the brits will soon be back in spain;when newer green taxes for planes are introduced,and longer security checks are in the faraway holiday will drop dramaticly.

chisel 29 Jan 11:34


Kent

That is a silly Statement!! Although it is absolutely true that different parts of the UK are fareing very differently! On the whole though, the UK appears to be holding its own fairly well

LOL @ chisel

Our % of debt versus GDP is higher than Greeces. Had we stayed in Euro we would be the problem at the moment again not Greece.

Just remember if ECB did the right thing and let Greece come out and re-issue the Drachma, all the other PIGS would know they couldn't blackmail them and EURO would soar. The closer the EURO resembles the DEUTSCHE MARK the higher it's value.

greece's debt is forecast to rise to 125% of GDP next year. How the feck is the UK's debt worse?