After Greece, is Spain the Next To Go ?

 Spain and her Prime Minister Zapatero’s are in troubles. The socialist leader is refusing to scale back any aspects of the welfare state, even as the country’s economy is in shambles, with massive debt and 20% unemployment. The economic trouble started when Spain, a country of 45 million, built more houses than Italy, Germany, and France COMBINED (over 200 million people)! When the housing bubble burst, Spain felt more pain than their European neighbors. There is wide speculation now, that Spain’s imminent demise could be the last domino which has to fall before the Euro zone currency is dissolved for good.

Germany and France have pledged financial support for Greece but Spain is a different animal. As the 4th largest economy in Europe, a bailout of Spain would be far too costly for countries who have problems of there own. This is the inherit problem with the Euro currency. With so many different cultures, economies, and politics under one roof, it creates huge conflicts of interest. Britain was smart when they didn’t sign on for this inevitable disaster!