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Economy
In reply to the discussion: STOCK MARKET WATCH -- Thursday, 19 April 2012 [View all]xchrom
(108,903 posts)13. Spain’s contagious collapse
http://www.salon.com/2012/04/19/spains_contagious_collapse/
BRUSSELS, Belgium The words Spain and contagion have already made history together.
Spanish flu spread around the world in the early 1900s. The pandemic didnt begin in Spain, but it was there that the world realized how serious and unstoppable the outbreak had become.
Now, as Spain takes up a central position in Europes economic crisis, the analogy is clear.
Sickly economies in Greece, Portugal and Ireland may yet respond to the European Unions limited array of economic remedies.
But if Spains attempt to heal itself with a shock-treatment of austerity fails, the EU may not be strong enough to prevent the infection from spreading to Italy, France and beyond.
BRUSSELS, Belgium The words Spain and contagion have already made history together.
Spanish flu spread around the world in the early 1900s. The pandemic didnt begin in Spain, but it was there that the world realized how serious and unstoppable the outbreak had become.
Now, as Spain takes up a central position in Europes economic crisis, the analogy is clear.
Sickly economies in Greece, Portugal and Ireland may yet respond to the European Unions limited array of economic remedies.
But if Spains attempt to heal itself with a shock-treatment of austerity fails, the EU may not be strong enough to prevent the infection from spreading to Italy, France and beyond.
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