Spain
It’s not surprising that Spain risks suffering from the consequences of the financial crisis. Its public debt ratio currently stands at a staggering 97.7% and it will continue to rise this year in 2015 and hit over 100% before it even starts thinking of falling – supposedly by 2017. That alone is enough to make the country implode and for someone else to fill the void. Unemployment increased to 23.78%in the first quarter of 2015, a rise from 23.7% in the last quarter of 2014 and it is set to remain at that level for this year at least with economic austerity measures failing to have any effect on the country. But, there are even greater worries coming the way of the Spanish government which will lead to greater destruction than anything economics can do to it. The country risks seeing the western region of Catalonia and the growing independence movement make even greater breakthroughs in popularity. Many (and a growing number) of Catalans believe that the region has fewer and fewer cultural ties with the rest of Spain. Catalonia has been part of Spain since the 15thcentury but now they believe more than ever that the time is right to gain independence. Plus today it is one of the richest industrial regions of Spain. In 2013 they formed a300-mile human chain around the country making sure that they at least symbolically cut themselves off from the Spanish. Spain could see its geography changing and its image will be most certainly damaged.
*(From here)
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