Posted on 01/30/2011 12:02:39 PM PST by Nachum
MADRID (AFP) – Spain announced Friday its jobless rate surged to a 13-year record above 20 percent at the end of 2010, the highest level in the industrialized world, as the economy struggled for air.
It was more bad news for an economy fighting to regain the trust of financial markets and avoid being trapped in a debt quagmire that has engulfed Greece and Ireland and now menaces Portugal.
Another 121,900 people joined Spain's unemployment queues in the final quarter of the year, pushing the total to 4.697 million people, said the national statistics institute INE.
The resulting unemployment rate was 20.33 percent for the end of the year -- easily exceeding Prime Minister Jose Luis Rodriguez Zapatero's target of 19.4 percent.
Spain appears to be stuck in a rut of staggeringly high levels of unemployment.
(Excerpt) Read more at news.yahoo.com ...
OK. The way I remember it is that Spain Cowed to Islam after the Madrid tragedy and elected Zapatero.
But I wouldnt know a jamon from a prosciutto.
Been to Barcelona, Valencia (to visit my bud) and Madrid. Nice cities, old architecture worth taking pics of, caliente women...but they’re racist, liberal and more arrogant than North Americans. Just a general observation...
I wonder if they count their unemployed similarly to the way we calculate ours...
Zapatero, Spanish for "Obana"...
Hey, Spain!
How’s that socialism/Muslim tolerance working out for you?
Yo Spain. Burka up and take it.
Personally, I want to hear the commentary from Nigel Farage!
It feled cuz they didunt pile duh muny high enuff!
I remember thinking during the bailout mania of 2008 that Spain’s bailout plan was the dumbest in the world. They spent billions buying only “healthy” assets, as if leaving nothing but distressed assets on the banks’ books was going to revive their financial system.
Looks like that worked out about as well as could be expected.
Meanwhile, people like Obama would like us to adopt a more European style economy. Twenty percent unemployment? Disgusting.
I’m a fan, too!
A Socialist government screwing up things for its people? Who would have thought....?
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