Submitted by christian on Tue, 01/20/2015 - 13:56
Today, Spain is held up as an example of the positive impact of policies demanded by the European Union, the European Central Bank and International Monetary Fund. The country has left the recession behind and its economy has annual growth of 1.6%. But few are paying attention to the real nature of that recovery. Big problems persist and the forecasts are not good. Unless Spain, and Europe, change course there is a risk dangerous deflation and decades of high unemployment -- currently at nearly 24%. Per capita income is lower than in 2004.
