I have such sympathy for the Spanish people having endured such high unemployment rates for so long. I really wonder if remaining in the Eurozone is worth the cost. Devaluation of a restored Spanish Pasator may be the medicine to alleviate the current problems. I read about S&P’s downgrade and negative outlook for Spanish Sovereign debt in this article http://www.moneymarketing.co.uk/politics/sp-downgrades-spains-credit-rating/1050430.article Without labour movement from areas of high unemployment to areas of low unemployment, and without fiscal transfers from the strong parts to the weak parts I fear it will be a long and painful march to economic recovery.rnrnThis information is intended to provide a general review of certain topics and its purpose is to inform but not to recommend or support any specific investment or course of action. The tips may not apply, or be suitable, to everyone and you should contact us for advice if you are unsure whether this is the case.rn
