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The Spanish economy.


The european economic “crisis” has slipped out of the news a little during the past year. Maybe there is just a sense of ennui. News stories can become overfamiliar especially if their bearing on your immediate experience is at least one step removed. Unfortunately that does not mean that the problems have been resolved and data from Spain would indicate that that is far from the case

I am certainly not one of those that is a  pessimist by nature but when you look closer at some of the actual data (see second link below) then it it is difficult to see where the turnaround is going to come from. I thought the most significant statistic was the continuing alarming collapse in consumer confidence (down 30% each of last two year on years). Without that vital element it is difficult to see how the economy will recover



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