Wednesday, May 5, 2010

Is Spain Next?

http://money.cnn.com/2010/05/04/news/international/spain_debt.fortune/index.htm

Is Spain the next country to ask for money from the IMF and EU?
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3 comments:

  1. Chloe ReevesMay 5, 2010 at 11:03 AM

    I would not be surprised to see Spain heading for default and needing a bailout from the IMF and EU. The financial crisis in Greece had a negative affect on the euro and all countries in the eurozone suffered because of the bailout. Countries like Portugal and Spain, which are already on the edge, are likely to suffer even more in the coming months. Spain is one of the largest economies in Europe so the whole eurozone should be worried if Spain defaults.

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  2. KelseyMay 5, 2010 at 11:59 PM

    I agree w/ Chloe. I think of all EU countries other than Greece, Spain is next. They will definitely suffer more if Greece is bailed out because the devaluing of the Euro would make matters much worse than they already are.

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  3. BryanMay 6, 2010 at 9:31 AM

    I actually hope not since I will be going there this summer, but I disagree and would say they will be alright. They raised 2.345 bill in debt sale. They were happy with the high success in raising dollas and that they are now back in the bond market. As far as their relief procedures their austerity package has a good timeline and they have been fairly strict with meeting their requirements. The economy looks to be getting better but the financial state is still poor since the contraction in 08 from the property bubble collapse. If they stay on track I think they will be okay as their industries are starting to do better but they just have to watch out for those interest rates as they will surely be paying higher....

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