Ad Majorem.....Wealth Builders
Repost from Newsmax | May 17, 2013
Get your money out of Spain/Spanish banks - IMF has declared Spain to be insolvent. Spain has also figured to have the highest unemployment rate of 27% (or 6 million Spaniards out of job) or nearly equal to that of Greece.
Spain's debt will grow from 84. 1% of GDP last year to 110.6% of GDP in 2018. That means a huge amount of debt servicing requirement. Prudent borrowing limits would just place it at mere 30%. USA in comparison would be almost the same. Japan has also borrowed to the hilt at more than l00% of GDP but these are all yen denominated.
Spain and Portugal hopes for a European Union bank that will help them recapitalize their failing banks
Showing posts with label Portugal. Show all posts
Showing posts with label Portugal. Show all posts
Saturday, May 18, 2013
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