Spain is the Weakest Link in the G-20
Lisa Abend, TIME | February 10, 2010
The Spanish gov’t. is doing damage control to combat the belief that the country is holding back the rest of the eurozone. ++ Spain is the only G-20 country still to be in a recession as of the 4th quarter of 2009. ++ “The eurozone could drift, essentially with a bifurcation, with a strong centre and a weaker periphery.” ++ Comparisons to Greece should be avoided as Spain is in a much better position to recover. ++ The gov't. is raising the retirement age and cutting 50 million euros from the budget in the hopes of boosting the economy.
