Posts Tagged ‘spain’

The Spanish Navy’s Newest Addition

I couldn’t resist this one. One of Spain’s largest defense splurges may also be one of its most embarrassing. After spending nearly one-third of a $3 billion budget to build four of the world’s most advanced submarines, the project’s engineers have run into a problem: the submarines are so heavy that they would sink to […]

Spain Calls It Quits On Fiscal Stimulus

Spain appears to be the first major country to throw in the towel on fiscal stimulus. The central bank announced that the country is officially tapped out. From Business Week: Spain’s central bank told the government on Tuesday (16 June) there is no room for further spending measures above those already announced, and warned that […]

Spain’s Unemployment Rate Soars

The unemployment rate in Spain at the end of the first quarter rose to 17.4%.  That’s up from 13.9% at the end of the year. The country is on the verge of uncontrollable downward spiral as they appear to be running out of the financial capacity to stimulate the economy. The deficit is expected to […]