Friday, 27 May 2011

The Pain in Spain

Unemployment stats for the PIGS and Germany.

Youth unemployment.

Spanish youth unemployment >45%. Greek >35%. Ireland >30%. This is before austerity measures start to really bite.

So far the Spanish protests are peaceful but the policia appear a little too enthusiastic with their batons.

  • Youth unemployment soaring past 45%,
  • General unemployment soaring past 20%,
  • A police force with a penchant for jackbooted club wielding,
  • Voter backlash over austerity measures. (a few days ago)


For those that can't remember beyond last weeks footy round, When the Spanish revolt, they don't hold back.

Banking exposure? French and German banks @ 162B and 182B a piece are the big winners. UK banks get the bronze with a lazy 111B in the pot.

Wonder how our bank's overseas borrowing efforts will go (to fund the property ponzi) when the Eurozone's shit really starts to hit the fan?

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