Spanish public debt reaches record level

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Spanish public debt reaches record level

Post by cronus » Sat Sep 14, 2013 8:18 am

http://www.bbc.co.uk/news/business-24077728

Spanish public debt reaches record level

Spain's public debt reached a record high in June, the country's central bank said.

The figure has risen to 942.8bn euros (£792.5bn; $1.3 trillion), equal to 92.2% of the country's entire economic output, the bank said.

This is nearly 15% higher than the same period last year and above the Spanish government's target limit of 91.4%, despite severe public spending cuts.

Austerity measures have led to street protests as unemployment now tops 26%.

Prime Minister Mariano Rajoy's government is aiming to reduce public spending by 150bn euros between 2012 and 2014, but rising unemployment and the consequent benefit payments, is making this target difficult to reach.

The bank believes public debt could top 100% of gross domestic product over the next three years, its highest level in more than a century, as the government struggles to revive the country's flagging economy.

(continued)
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Re: Spanish public debt reaches record level

Post by JimC » Sat Sep 14, 2013 9:40 am

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Re: Spanish public debt reaches record level

Post by Brian Peacock » Sat Sep 14, 2013 9:41 am

I think the people thez owe it too should let them off it. It's not like the Masters who run the international usury system are starving, unemployed or homeless is it?
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Re: Spanish public debt reaches record level

Post by klr » Sat Sep 14, 2013 1:32 pm

Brian Peacock wrote:I think the people thez owe it too should let them off it. It's not like the Masters who run the international usury system are starving, unemployed or homeless is it?
Be careful what you wish for. Your pension fund is probably on rocky enough ground as it is. :tea:
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Re: Spanish public debt reaches record level

Post by MrJonno » Sat Sep 14, 2013 1:33 pm

klr wrote:
Brian Peacock wrote:I think the people thez owe it too should let them off it. It's not like the Masters who run the international usury system are starving, unemployed or homeless is it?
Be careful what you wish for. Your pension fund is probably on rocky enough ground as it is. :tea:

You're assuming most people have pensions fund?
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Re: Spanish public debt reaches record level

Post by Brian Peacock » Sat Sep 14, 2013 1:37 pm

klr wrote:
Brian Peacock wrote:I think the people thez owe it too should let them off it. It's not like the Masters who run the international usury system are starving, unemployed or homeless is it?
Be careful what you wish for. Your pension fund is probably on rocky enough ground as it is. :tea:
That's just what they want you believe. :-D
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"It isn't necessary to imagine the world ending in fire or ice.
There are two other possibilities: one is paperwork, and the other is nostalgia."

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"This is how humanity ends; bickering over the irrelevant."
Clinton Huxley » 21 Jun 2012 » 14:10:36 GMT
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