Spain is under pressure from budget deficit, recession, debt

03/1/2010 | Financial Times (tiered subscription model)

It is only a matter of time before the sovereign-debt market turns its attention from Greece to Spain, economists said. With an economy four times the size of Greece's, Spain is struggling with a budget deficit, an unemployment rate of more than 4 million and an austerity plan that has been greeted with skepticism. Luis Garicano, professor of economics and strategy at the London School of Economics, said Spain's plan for reducing its deficit to 3% of gross domestic product by 2013 is "all air."

View Full Article in:

Financial Times (tiered subscription model)

Published in Brief: