350 likes | 417 Views
Spain 2010: The New European Problem? Ramon Tremosa-i-Balcells. Catalan MEP, ALDE Group. Spain 2010: The Next European Problem? Ramon Tremosa-i-Balcells. Catalan MEP, ALDE Group
E N D
Spain 2010: The New European Problem? Ramon Tremosa-i-Balcells. Catalan MEP, ALDE Group Spain 2010: The Next European Problem? Ramon Tremosa-i-Balcells. Catalan MEP, ALDE Group Ciudad Real airport: built in the middle of the Spanish “meseta”, has generated an enormous deficit which has originated the intervention of Caja Castilla La Mancha by the Central Bank of Spain (€6.000 millions). This airport is the only Spanish airport with high speed train (AVE)… it is one of the best examples of the Spanish real state bubble.
Spanish fiscal deficit (monthly budget deficit evolution in millions euros)
European Comission forecast Provisións De La Comissió Europea (novembre 2009) 2009 – PIB -3,7%: Defict Fiscal -11,2%: Atur, 17.9% 2010 – PIB -0,8%: Defict Fiscal – 10,1%: Atur, 20% 2011 – PIB +1%: Defict Fiscal -9,3%: Atur, 20,5%
The Aftermath of Financial Crises – Carmen Reinhart and Kenneth Rogoff It won´t be the case of Spain!!