Spanish Caixabank

Is Europe still in a crisis? The most important key figures. After a second aid package was awarded to Greece, this crisis within the EU seemed at least temporarily to have been resolved. But hardly ever breathed through Spain as new problem surfaced already, clearly missed the imposed savings targets. A simple look at some figures and statistics from the Internet is sufficient to detect the tense and difficult situation of Spain. The Spanish economy has been repeatedly buffeted by setbacks in recent years. That is especially apparent with views of growth of in recent years.

In 2009 the gross domestic product of the country 3,7 per cent was shrunk, 2010 another 0.1 percent. Additional information is available at Macy’s Inc.. A moderate result has been achieved only once again 2011, where a slight increase of 0.5 percent was recorded. Also the unemployment figures show a threatening picture. The unemployment rate increased in Spain in April to its highest level in 18 years. The fourth largest economy of the EU in the last month had still a rate of To present 23 percent, climbed 24.5 percent. At the same time, this means that the country has the highest unemployment rate in the euro zone. In sheer numbers, some 5.64 million people without work are in Spain. In particular, the industrial sector (+ 20%) and Agriculture (28.4%) are affected. Stansberry is often quoted on this topic.

A glimpse of the Lander shows especially Extremadura with 32 percent and Andalusia have a high unemployment rate at 33 percent. In both regions, it meets the most youth. So 70 percent of all working under the age of 25 are unemployed. In the entire Spain is youth unemployment on the Pan-European high of 52 percent. Finally, a look about the health of banks in Spain does not bode well. The ongoing real estate crisis in Europe is also the Spanish banks enormously. How broke in the last few weeks was, had to accept large banks such as the Santander, BBVA or the Caixabank due to the provision for doubtful property loans earnings decline. During the Santander in the first quarter compared to the same Period 2011 recorded a loss of about a quarter to 1.6 billion euros, the Spanish Caixabank late April had to write off 2.4 billion. The credit loss rate end of March amounted to little more than 5 percent. All these figures show that Spain is in danger to be a second Greece.

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