"become very competitive"

Like the VW workers being paid almost double to their German counterparts?

Looks to me like the DT had a law suit on their hands after last week's Get Your Cash out of Spain article!!

He was probably impressed by the freebie Said last month that the increase in Spain's exports won't make any difference to it's economy!

I doubt if the Spanish would bat an eye lid, but then you need so much identification it wouldn't pass muster

We've known about the PIIGS for a while now. However I've been worried about Italy for some time now - and if they cooked the books - like Greece did. Seems to me (and I realise I am being stereotypical here) if the Greeks did it, then the Italians could have done it as well..... with organised crime intertwined with politics there, seems a real possibility that something 'nasty' is hidden there too. And now France in recession.

If a small country like Cyprus or even Greece can cause shockwaves on the markets, then what if something nasty turns up in Italy, or France cant pull out of recession? ... then we are in REAL trouble.

http://www.bbc.co.uk/news/business-22536197

Also the Eurozone is now in 6 quarters of recession. Never ending finance minister meetings aren't solving the problems. Its beyond them.

Interesting that the markets are above the pre-crisis levels, but somehow it appears to me that the outlook is not so good. I wonder if we are in another bubble, waiting for more news to come out before it pops

Jon

Absolutely, markets are in a huge bubble because quite simply, the rich need to put their money somewhere, and they have been driven out of the banks and many property markets, and back into stocks and shares

Ambrose is famous as the guy who predicted in 2011 that Spanish exports would perhaps save the Euro. So, if he's written to the contrary since, he's obviously trying to cover all bases.

http://www.telegraph.co.uk/finance/c...-the-euro.html

http://elpais.com/elpais/2013/05/12/...31_099950.html


"From Indignation to Rebellion".


It was hard to envisage things getting much worse 2 years ago when there were 4.5 million out of work.

Now with 6.2 million out of work, even getting back to the 4.5 million situation within a couple of years would be looked upon as positive news, though sadly even that looks way out of reach now.

A long rocky road lies ahead and the recent improved export figures barely represent a drop in the ocean.

The ever increasing drain of skilled labour bears further testimony to the present desperate situation and does not bode well for an early return to prosperity or indeed anything even approaching normality such as it was five years ago.

Well, he was spot on there eh?

Well the Euro (and Spain) are still around...so for the moment he's been proven right. It's all part of the anti-Euro slant of the newspaper though - look how heroically Spain has performed, despite the straight-jacket of the Euro.
And I can see their point. But the majority of Spanish people still want to hang onto the Euro, even if they believe the EU is harming their prospects. Those still working, or those with a comfortable pension, are not going to want to vote for a 50% cut in pay. So instead the government will tax them more (and companies will hire them with 20% pay cuts).

Just to make up numbers,I went to a "really good clairvoyant" when I was pregnant.

I was told that I would have a boy, or perhaps it could possibly be a girl.

In fact the fortune teller was right, because I had a girl.

I wonder if she was any relation to this Ambrose fella.

Heroically? Straitjacket? You are sounding like Spain is the victim of some Europe wide conspiracy mate. It is a corrupt, screwed up mess that led itself towards financial ruin by over spending and blind faith in fraud and criminality. I mean don't get me wrong, I love the country and its passion, love the culture and history and given the weather we have endured in the UK over the last 18 months I absolutely love the weather but lets not forget why Spain is in this mess. No one forced the town halls to build over priced white elephants, no one forced landowners to sell land that shouldn't be built on, homes that couldn't be lived in, airports that would never see a plane... The Euro is a completely moot point, its here to stay, its death would signal the death of the EU and it just wont happen, countries may well pull out, who knows but the Euro is here to stay. The real issue is has Spain learnt its lesson and judging by its denial and playing the victim I'd say not.

Not me this time Matt - it was the title of the DT article today..

http://www.telegraph.co.uk/finance/c...it-doesnt.html

Yeah but you repeated it... that's how this crap becomes canon. You know that.

Come on Matt, plenty here who aren't afraid to contradict me, on most subjects. I really do not carry that much importance!